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  • #1,661
  • Jan 19, 2014 1:23pm Jan 19, 2014 1:23pm
i don't know... that a rule or guideline? if we can see 5 waves thats all that is required, no?
market traded below my wave 4. we can't have wave 5 drop below 4....; unless you're saying my wave 4 labeling is wrong?
ok bye

im just expecting wave 1 of C
  • #1,662
  • Jan 19, 2014 3:48pm Jan 19, 2014 3:48pm
Got myself 200k doge. Hehe, much doge, such currency, much community, wow
BTC FTW
  • #1,663
  • Jan 19, 2014 3:49pm Jan 19, 2014 3:49pm
Will start to mine doge as well. The reward will halve soon, and price will go up.
BTC FTW
  • #1,664
  • Jan 19, 2014 8:52pm Jan 19, 2014 8:52pm
Quoting smartypants
Got myself 200k doge. Hehe, much doge, such currency, much community, wow
smartypants,


Good luck with the Dogecoin!

I sent you a question about compilation in PM - please check when you have a moment.
cryptocurrency everytime
  • #1,665
  • Jan 19, 2014 9:23pm Jan 19, 2014 9:23pm
Quoting KiwiOz
{quote} Your right. anyway it's been fun. time to hit the sack.........

so it broke the 819 and red ema 100 and up he went, then down to the 822 again and now is back up at the 840 what a ride wow, wake up with both trades still........lol

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The Chonchy
  • #1,666
  • Jan 19, 2014 9:30pm Jan 19, 2014 9:30pm
.......One hour already turn for the up, we only need 4H to turn for the up for this thing to take off to the ........

Attached Image
The Chonchy
  • #1,667
  • Jan 19, 2014 9:32pm Jan 19, 2014 9:32pm
here are the charts.....

one hour did cross.......

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and 4H is about to, if it keeps going up......

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The Chonchy
  • #1,668
  • Jan 19, 2014 9:35pm Jan 19, 2014 9:35pm
....daily is up also so if no news is out there to interrupt this move, if 4H turn, we are going up to the moon.......lol

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The Chonchy
  • #1,669
  • Jan 19, 2014 10:00pm Jan 19, 2014 10:00pm
Quoting chonchy
.........Coincidently 819 became the red ema 100 here so is a crucial point for him, break or bounce and is being a few intents already so my guess is that is going for the 23.6 fibo of the grand rally.......I could be wrong.......but I think is break or bounce situation..... {image}
and 23.6 it went, this thing love fibos in deed......

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The Chonchy
  • #1,670
  • Jan 19, 2014 10:11pm Jan 19, 2014 10:11pm
Quoting emptymind
around 700 ...the usual 61.8% retracement for wave 2
So are we all still thinking it's about to go lower again? Or are we about to go up? I've been watching these charts constantly and still haven't gotten the hang of it, not even close. But I am going to watch some more youtube videos later this week when I have time and try and unlock more secrets of the MACD!
  • #1,671
  • Jan 19, 2014 10:37pm Jan 19, 2014 10:37pm
Quoting dcramer16
{quote} So are we all still thinking it's about to go lower again? Or are we about to go up? I've been watching these charts constantly and still haven't gotten the hang of it, not even close. But I am going to watch some more youtube videos later this week when I have time and try and unlock more secrets of the MACD!


I never thought it was going to go lower.........where did I said it was going to go lower, I said it was a possibility but my bias was the 23.6 and here we are..........
The Chonchy
  • #1,672
  • Jan 19, 2014 11:14pm Jan 19, 2014 11:14pm
Morning All,

hi chonchy and DC,

I'm not making any assumptions about direction until price breaks out of the rectangle that has contained it since beginning of Jan. If PA breaks above 850 and stays there then the possibility of continued uptrend will be more solid. Here's a chart from yesterday showing the mysterious purple force-field:

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cryptocurrency everytime
  • #1,673
  • Jan 19, 2014 11:27pm Jan 19, 2014 11:27pm
Quoting chonchy
{quote} I never thought it was going to go lower.........where did I said it was going to go lower, I said it was a possibility but my bias was the 23.6 and here we are..........

I never said you thought it was going to drop chonchy. I was quoting emptymind, and it seemed like venzen agreed with his prediction, but maybe I read it wrong. But good news, I can tell you with 99.9% accuracy that the price is going to drop like a rock. Yes, 99.9% accuracy. And it doesn't come from a chart, or from news. I sold today finally, after a week, and scored a $20 profit. Thought it was a good time to get out for awhile. But then I bought back in, a little lower this time but not by much. So now that I've bought back in, the price will drop significantly. Happens everytime I buy back in!
  • #1,674
  • Jan 20, 2014 12:01am Jan 20, 2014 12:01am
Quoting dcramer16
{quote} I never said you thought it was going to drop chonchy. I was quoting emptymind, and it seemed like venzen agreed with his prediction, but maybe I read it wrong. But good news, I can tell you with 99.9% accuracy that the price is going to drop like a rock. Yes, 99.9% accuracy. And it doesn't come from a chart, or from news. I sold today finally, after a week, and scored a $20 profit. Thought it was a good time to get out for awhile. But then I bought back in, a little lower this time but not by much. So now that I've bought back in, the price...

hi DC,

Just to discuss it, I don't have a strong opinion about whether price will go up or down at this time. I was merely exploring easymind's wave count and prediction with him yesterday. Until it breaks out of the box I remain neutral - expecting it to remain in the box. I have a secondary structure, namely a triangle, that will complete eventually, but triangles are notorious for continuing much longer than we anticipate as well as being able to morph into larger corrective structures. So it's wait-and-see for me.

My longer term expectation is that BTC will go up - a great distance - and this is why I'm trading it. However, I'm focussed on 200-300 pip moves for opening and closing orders. For my trade plan for BTCUSD, I buy at the lower extremetiies when price approches support (e.g. the bottom of that purple rectangle) and a high probability reversal level is at the top of the rectangle (resistance) - which is good for selling on expectation of buying in lower again. However, as soon as price goes above the resistance level you have to look for a new entry point - not in a hurry or a panic - you should be willing to forego some upside profit in favour of opening a new long position at low risk/high reward.

Obviously, having bought at say 500, the safest strategy would be simply to hold until 1500, 2800 or 5000 (whatever your upside expectation). But if one is going to trade the intraday moves to grab small profits here and there then you must have a game plan with rules dictating the buying and selling because going by emotion (hope and fear) you'll end up buying high on fear of trend going north without you; and selling low out of fear that price is going to drop further! Fear will have you trading like Mr Bean and hope will have you chewing your lip in desperate expectation of trend turning your way. But a cold rational plan based on Support/Resistance and one or two objective indicators will see you entering and exiting with more success.

The wisdom from the old salty dog traders is to abandon attachment to direction up or down or sideways and to let the market lead and show you where it is heading. Some experience will help you recognise different market conditions, yet even the best traders can misread the market because we're human and this is gambling! As traders, I would say, our objective is to formulate strategies to take advantage of different markets states/conditions (up, down, sideways) and to find a strategy that allows us to draw benefit even when price action does something else than we anticipated - contingency plans. OK, this is becoming very philosophical, but I think you get my practical advice?
cryptocurrency everytime
  • #1,675
  • Jan 20, 2014 12:32am Jan 20, 2014 12:32am
Quoting dcramer16
{quote} I never said you thought it was going to drop chonchy. I was quoting emptymind, and it seemed like venzen agreed with his prediction, but maybe I read it wrong. But good news, I can tell you with 99.9% accuracy that the price is going to drop like a rock. Yes, 99.9% accuracy. And it doesn't come from a chart, or from news. I sold today finally, after a week, and scored a $20 profit. Thought it was a good time to get out for awhile. But then I bought back in, a little lower this time but not by much. So now that I've bought back in, the price...
Oh Sorry, my mistake then, take it back, sorry.......
The Chonchy
  • #1,676
  • Jan 20, 2014 12:36am Jan 20, 2014 12:36am
Quoting venzen
{quote} hi DC, Just to discuss it, I don't have a strong opinion about whether price will go up or down at this time. I was merely exploring easymind's wave count and prediction with him yesterday. Until it breaks out of the box I remain neutral - expecting it to remain in the box. I have a secondary structure, namely a triangle, that will complete eventually, but triangles are notorious for continuing much longer than we anticipate as well as being able to morph into larger corrective structures. So it's wait-and-see for me. My longer term expectation...
.....Even I get it.......
The Chonchy
  • #1,677
  • Jan 20, 2014 12:38am Jan 20, 2014 12:38am
Quoting dcramer16
{quote} I never said you thought it was going to drop chonchy. I was quoting emptymind, and it seemed like venzen agreed with his prediction, but maybe I read it wrong. But good news, I can tell you with 99.9% accuracy that the price is going to drop like a rock. Yes, 99.9% accuracy. And it doesn't come from a chart, or from news. I sold today finally, after a week, and scored a $20 profit. Thought it was a good time to get out for awhile. But then I bought back in, a little lower this time but not by much. So now that I've bought back in, the price...
.......Good job on the profits, but I thought you where going to trade on demo first to learn and then waste your precious money........I wish I had some one told me that in the beginning, wow how much I would have saved........
The Chonchy
  • #1,678
  • Jan 20, 2014 12:56am Jan 20, 2014 12:56am
Quoting dcramer16
{quote} So are we all still thinking it's about to go lower again? Or are we about to go up? I've been watching these charts constantly and still haven't gotten the hang of it, not even close. But I am going to watch some more youtube videos later this week when I have time and try and unlock more secrets of the MACD!
I guess all don't include me......
The Chonchy
  • #1,679
  • Jan 20, 2014 1:05am Jan 20, 2014 1:05am
G'day y'All. I see price got another leg up while I was not looking. Should have taken more notice of the upper target but ignored it. Silly me.

Looking at the 4H chart. Do we have a channel ? & will it turn into a Bull Flag.??
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Money Makes Money
  • #1,680
  • Jan 20, 2014 1:23am Jan 20, 2014 1:23am
Quoting KiwiOz
G'day y'All. I see price got another leg up while I was not looking. Should have taken more notice of the upper target but ignored it. Silly me. Looking at the 4H chart. Do we have a channel ? & will it turn into a Bull Flag.?? {image}
Hy KiwiOz, hope you had a good rest.......

I think 4H is not in sync but trying to if it dose we are going north if not it will bounce here south, sort of like yesterday, I think the best bet is surf the wave, is all we can do, enter at the break with the smaller TFs.......good luck........

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The Chonchy
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