Wall Observer - MtGoxUSD wall movement tracker

[adamstgBit]

if i had $2million to buy btc and was a bull

I'd just set up a bot to buy 25 BTC every 10 minutes and let it run for a week or two.

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

anyone that has no bitcoin and an oz of commonsense will buy some now and count himself lucky if he gets to buy more lower

[zkay]

if i had $2million to buy btc and was a bull

I'd just set up a bot to buy 25 BTC every 10 minutes and let it run for a week or two.

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

And so it goes. Personally I am all fiat on gox right now, waiting on something to happen. Have bids in at 33 and 31.5, hoping tohave them filled. At this point there is too much tension; which way it's going to break remains to be seen.

[mccorvic]

if i had $2million to buy btc and was a bull

I'd just set up a bot to buy 25 BTC every 10 minutes and let it run for a week or two.

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

And so it goes. Personally I am all fiat on gox right now, waiting on something to happen. Have bids in at 33 and 31.5, hoping tohave them filled. At this point there is too much tension; which way it's going to break remains to be seen.

So, pretty much what I guessed then?

[justusranvier]

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

Experienced traders don't know how price usually moves. Half of them beat the market in a given year, and the other half don't, and the two groups trade places frequently. It all comes down to luck.

[Piper67]

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

Experienced traders don't know how price usually moves. Half of them beat the market in a given year, and the other half don't, and the two groups trade places frequently. It all comes down to luck.

+1

A monkey throwing darts at a board has about as much chance of making or losing money as a trader.

[siulynot]

Holy shit!

Look at the hourly indicators,
MACD .006
ADX 29
RSI 48
Bollinger Bands with only 1point of difference!

Is like if price was in the middle of a crossroads... perfectly centered



http://bitcoincharts.com/charts/mtgoxUSD#rg10zigHourlyztgSzbgBza1gSMAzm1g50za2gSMAzm2g200zxzi1gMACDzi2gADXzi3gRSIzv

[randrace]

And so it goes. Personally I am all fiat on gox right now, waiting on something to happen. Have bids in at 33 and 31.5, hoping to have them filled. At this point there is too much tension; which way it's going to break remains to be seen.

I have done the same thing, but my bid is at 40.

[Piper67]

Holy shit!

Look at the hourly indicators,
MACD .006
ADX 29
RSI 48
Bollinger Bands with only 1point of difference!

Is like if price was in the middle of a crossroads... perfectly centered



http://bitcoincharts.com/charts/mtgoxUSD#rg10zigHourlyztgSzbgBza1gSMAzm1g50za2gSMAzm2g200zxzi1gMACDzi2gADXzi3gRSIzv

Wow! Your charts are telling you the price is staying within a narrow range of 46.80 - 47-30??? Really??? Those must be some powerful charts you're using there, magic man. 

[siulynot]

Holy shit!

Look at the hourly indicators,
MACD .006
ADX 29
RSI 48
Bollinger Bands with only 1point of difference!

Is like if price was in the middle of a crossroads... perfectly centered



http://bitcoincharts.com/charts/mtgoxUSD#rg10zigHourlyztgSzbgBza1gSMAzm1g50za2gSMAzm2g200zxzi1gMACDzi2gADXzi3gRSIzv

Wow! Your charts are telling you the price is staying within a narrow range of 46.80 - 47-30??? Really??? Those must be some powerful charts you're using there, magic man.  

How stupid of me right! :p

Now look this chart... the weekly one...

MACD +7.726
ADX 77
RSI 97
Bollinger bands with $42.23 difference! THE LOWER BB IS IN 0!!!!!!



Now, if hourly chart is in crossroads, and weekly chart is up there, then its kind of fair to say that the most obvious route price can take is down.

Im not saying it wont go up, it really could keep going up. But man, that weekly chart is scary...

[Wekkel]

Im not saying it wont go up, it really could keep going up. But man, that weekly chart is scary...

As scary as when we hit $15

I repeat: just because things went up, does not mean things go down. Remember that or learn through losing.

[samson]

An experienced trader who knows how price usually moves would just put his bid at $30 and wait.

Yes, the guy who put the huge bid in at $30 probably knows his stuff so I just copied him and put my own in at around 31.

[siulynot]

Im not saying it wont go up, it really could keep going up. But man, that weekly chart is scary...

As scary as when we hit $15

I repeat: just because things went up, does not mean things go down. Remember that or learn through losing.

I repeat: just because things went up DOWN, does not mean things go down UP. Remember that or learn through losing WINNING.

Its simple to go on opposite thinking.

Just the simple fact that the BB line puts 0 as a possibility is scary... i dont know for you, but most people would freak out if they see that.

[mccorvic]

Just the simple fact that the BB line puts 0 as a possibility is scary... i dont know for you, but most people would freak out if they see that.

In reality, the vast majority of people realize that TA or drawing lines on graphs and giving those lines stupid names is even less predictive than trying to divine the future through a curious mixture of tea leaves and animal intestine.

[samson]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

[siulynot]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

[mccorvic]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

Meh, just one or two weak-handed bears trying to "scare".  As many before them, they will most likely be forced to eat their own dump.

[Piper67]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

Meh, just one or two weak-handed bears trying to "scare".  As many before them, they will most likely be forced to eat their own dump.

Meh... maybe, but some people actually do cash out. In about ten years, they'll look over their shoulders and say: "shit, I wish I still had that 1000 BTC".

[siulynot]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

Meh, just one or two weak-handed bears trying to "scare".  As many before them, they will most likely be forced to eat their own dump.

Just remember that in this stage, the one that gives the first hit wins... im looking at bears hitting right now. I hope your papabull appear shortly.

[Piper67]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

Meh, just one or two weak-handed bears trying to "scare".  As many before them, they will most likely be forced to eat their own dump.

Just remember that in this stage, the one that gives the first hit wins... im looking at bears hitting right now. I hope your papabull appear shortly.

Who cares? BTC goes up, BTC goes down... you only lose if you're a trader who thinks he can win. For those of us in it for the long haul, there's no losing, really.

[siulynot]

We're starting to see people selling amounts of 400-600 BTC at various places in the area beneath the ask walls now around 47.25 and up.

The walls remain unchaged though.

Edit - typed wrong price !

Price seems to begin to move.... down.

Meh, just one or two weak-handed bears trying to "scare".  As many before them, they will most likely be forced to eat their own dump.

Just remember that in this stage, the one that gives the first hit wins... im looking at bears hitting right now. I hope your papabull appear shortly.

Who cares? BTC goes up, BTC goes down... you only lose if you're a trader who thinks he can win. For those of us in it for the long haul, there's no losing, really.

Then why you are so interested in the Wall Movement Tracker thread then?