chessnut (OP)
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October 19, 2014, 09:18:25 AM |
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We did not break the 2430 level so wave C is not confirmed. We are breaking down after a sideways correction. This has large downside potential but there is still a looming possibility that we will find a floor to launch wave iii of hypothetical wave C. The most probable count here is minor c of B downwards. Not a safe place to be long here. major and minor count here  |
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JustAnotherSheep
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October 19, 2014, 09:57:48 AM |
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We did not break the 2430 level so wave C is not confirmed. We are breaking down after a sideways correction. This has large downside potential but there is still a looming possibility that we will find a floor to launch wave iii of hypothetical wave C. The most probable count here is minor c of B downwards. Not a safe place to be long here. major and minor count here https://www.tradingview.com/x/8E9rr7Q0/Noob EW question: At what point does the a-b-c count see invalidation? Crossing of 2420 CNY? Or will that still leave the doors open for a larger b? Also thank you for this thread. Don't listen to people saying you're impatient, the constant minute charts are a great way of helping me (and others) learn how to map the waves  |
Is it a bull? Is it a bear? No, it's just another sheep.
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eboard10
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October 19, 2014, 10:07:04 AM |
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Noob EW question: At what point does the a-b-c count see invalidation? Crossing of 2420 CNY? Or will that still leave the doors open for a larger b? Also thank you for this thread. Don't listen to people saying you're impatient, the constant minute charts are a great way of helping me (and others) learn how to map the waves In this case, it would have been invalidated if the price moved above the Wave A top of 2498 CNY. At the moment it looks like we've moved into wave c of B. |
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chessnut (OP)
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October 19, 2014, 11:30:26 AM |
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Noob EW question: At what point does the a-b-c count see invalidation? Crossing of 2420 CNY? Or will that still leave the doors open for a larger b? Also thank you for this thread. Don't listen to people saying you're impatient, the constant minute charts are a great way of helping me (and others) learn how to map the waves In this case, it would have been invalidated if the price moved above the Wave A top of 2498 CNY. At the moment it looks like we've moved into wave c of B. +1 Having some impulsive behaviour downwards. as of this moment I can rule out wave i of C. I think we are headed to mid 300's. |
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madmat
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October 19, 2014, 11:51:15 AM |
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I decided to give a new try to trading. As my first tries was not good at all, I only trade 0.1 btc. I buy my btc on kraken, which is very good at accepting quickly my euros. But for trading, I am not sure it is the best. They have a lot of possibilities in the order form, I really like the order called "stop loss, take profit". But volume is low and fees recently went up from 0.20% to 0,35%.
I would like to trade with less fees and if an android app is available, it would be great.
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chessnut (OP)
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October 19, 2014, 12:05:08 PM |
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madmat,
OKcoin is the best exchange I have ever used, very good liquidity. you can easily move bitcoin there and trade futures and leverage. Unfortunately there is no app for futures trading but no exchange is perfect.
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madmat
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October 19, 2014, 12:11:46 PM |
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madmat,
OKcoin is the best exchange I have ever used, very good liquidity. you can easily move bitcoin there and trade futures and leverage. Unfortunately there is no app for futures trading but no exchange is perfect.
Thanks for your answer. I will give it a try as soon as we reach next bottom and I buy back my coins. |
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chessnut (OP)
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October 19, 2014, 12:23:51 PM |
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If you have the patience to trade a potentially sluggish wave to ~350 then this would be the strategy. short any bounce and keep your stop above the green trend line, which is now about 2400. I dont usually like trading waves of B but this is a good risk reward, and levels are well defined. might be a bumpy ride and its hard to say the path it will most likely follow, so fasten your seat belts.  |
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seleme
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Duelbits.com
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October 19, 2014, 12:28:35 PM |
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The beauty of EW - you have to be right once, just keep tryin'  |
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btcney
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October 19, 2014, 12:29:59 PM |
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The beauty of EW - you have to be right once, just keep tryin' EW kinda sucks. If his prediction is wrong it's another wave. Rinse and repeat until you're right. |
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seleme
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Duelbits.com
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October 19, 2014, 12:31:46 PM |
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The beauty of EW - you have to be right once, just keep tryin' EW kinda sucks. If his prediction is wrong it's another wave. Rinse and repeat until you're right. Yep. It's good in long term prediction when charter knows what he is doing but even best of them suck big time in short term prediction. Hopefully people don't trade on advices from threads like this or they'll get burned short term 8 of 10 times. This particular period is not great for predictions in any strategy though but EW is same in any market conditions. |
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btc6000
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October 19, 2014, 12:40:54 PM |
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Short attention span and trading on the 15m charts is bad for your wealth.
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We have come to be one of the worst ruled, one of the most completely controlled and dominated, governments in the civilized world—no longer a government by free opinion, no longer a government by conviction and the vote of the majority, but a government by the opinion and the duress of small groups of dominant men.
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chessnut (OP)
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Activity: 924
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October 19, 2014, 01:01:56 PM |
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The beauty of EW - you have to be right once, just keep tryin' EW kinda sucks. If his prediction is wrong it's another wave. Rinse and repeat until you're right. Yep. It's good in long term prediction when charter knows what he is doing but even best of them suck big time in short term prediction. Hopefully people don't trade on advices from threads like this or they'll get burned short term 8 of 10 times. This particular period is not great for predictions in any strategy though but EW is same in any market conditions. No, you dont get it at all. you cant blame the analyst for the actions of a bad trader. I only speak in terms of probability on this thread, and yet if you have been paying attention to the success with the levels I have been targeting you would be winging on somebody else's thread. We have had a better than 50% success rate and a far greater risk/reward rate. |
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eboard10
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October 19, 2014, 01:59:48 PM |
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madmat,
OKcoin is the best exchange I have ever used, very good liquidity. you can easily move bitcoin there and trade futures and leverage. Unfortunately there is no app for futures trading but no exchange is perfect.
On OKCoin, do futures contracts expire if they aren't exercised or are they automatically rolled over to the following week? Btw, I just opened an account and got Level 1 verification but I can't see a Margin tab for leverage trading.  |
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chessnut (OP)
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October 19, 2014, 08:26:39 PM |
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madmat,
OKcoin is the best exchange I have ever used, very good liquidity. you can easily move bitcoin there and trade futures and leverage. Unfortunately there is no app for futures trading but no exchange is perfect.
On OKCoin, do futures contracts expire if they aren't exercised or are they automatically rolled over to the following week? Btw, I just opened an account and got Level 1 verification but I can't see a Margin tab for leverage trading. trade futures for leverage or open a cny account. futures is easier imo, they can expire but if you want to hold just choose a longer contract like quarterly. there is no leverage for the exchange option, only futures you will find. |
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chessnut (OP)
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October 19, 2014, 08:27:59 PM |
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well done if you shorted the bounce.  |
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chessnut (OP)
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October 20, 2014, 01:47:16 AM |
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The dominant B wave forecast is playing out well, here is an updated chart of the larger wave C wave we have been tracking.  |
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BitCoinNutJob
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October 20, 2014, 04:20:49 PM |
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What happens after we hit the big C, we go to the moon ?
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eboard10
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October 20, 2014, 04:57:47 PM |
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What happens after we hit the big C, we go to the moon ?
Not immediately but the trend will change to the upside. Yet, there is a different count where Wave A from chessnut's graph is actually Wave C and has B as an X-wave which means we're currently in Wave A of an extended correction which would take us well into 2015, something similar to this: https://www.tradingview.com/v/42UOcWtJ. It's too early to tell though. We'll have to wait for the present downtrend to end and pay close attention to how the subsequent upside move plays out. |
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chessnut (OP)
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October 20, 2014, 08:52:01 PM
Last edit: October 21, 2014, 01:24:37 AM by chessnut |
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What happens after we hit the big C, we go to the moon ?
Not immediately but the trend will change to the upside. Yet, there is a different count where Wave A from chessnut's graph is actually Wave C and has B as an X-wave which means we're currently in Wave A of an extended correction which would take us well into 2015, something similar to this: https://www.tradingview.com/v/42UOcWtJ. It's too early to tell though. We'll have to wait for the present downtrend to end and pay close attention to how the subsequent upside move plays out. Such a IV wave would be too extended to be plausible, but its possible. Look at the weekly chart. wave V is already overdue. |
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