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Eric123

Epic Pennant on BTC Chart

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12 minutes ago, Muellhart said:

OT: I am following this thread since it started. Just wanted to say thanks to all the great contributors here, I actually learned alot about TA from this thread alone. I open it up every morning when I have my coffee and actually read through all of it.

Special thanks to @Eric123 for starting it, you rock for sharing all that juicy knowledge! And ofc all the other great TA posters here!

If this thread ever dies or gets derailed by trolls I will be very sad.

It had to be said, carry on now please!

This is a troll-free area, pretty much. We did see one a while back......not sure what happened to him.

#shallowgrave

The contributions by @Eric123 have been enormous....and now we have  @PhiGuy (whom I can assure you is well worth the price of admission....thanks again sir.)

 

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1 hour ago, smithers said:

@PhiGuy I think you are referring to this article: https://medium.com/@positivecrypto/the-golden-ratio-multiplier-c2567401e12a ? By the way, the author has similar name as your avatar here :)

Thanks for outing our new TA mentor....... :)  Now I have a boatload of reading to catch up on. 

Thank you @smithers . The link is much appreciated.

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How is it an indicator though... the 350DMA x2 doesn't cross above the 111DMA, the 111DMA crosses below the 350DMA x2. And that obviously happens due to falling price. So I don't see how it is an indicator of anything other than that price has gone down.

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1 hour ago, PhiGuy said:

Well based on this mans mischievous smile alone...10

sbi1.jpg

Heartened to see someone who knows what he’s doing( @PhiGuy) uses at least some methods similar to my own 👌

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7 minutes ago, Cooliozxrp said:

Basically this thread is full of TA "experts" whose predictions are all over the place so it's bound that one of them gets one correct...

Somebody have a bad day? :unsure: We’re here for you if you need to talk

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2 hours ago, baobeiiiii said:

How is it an indicator though... the 350DMA x2 doesn't cross above the 111DMA, the 111DMA crosses below the 350DMA x2. And that obviously happens due to falling price. So I don't see how it is an indicator of anything other than that price has gone down.

Put yourself back in mid-April, 2018. BTC had fallen from the high and then bounced around and had just made a new low around April 7th. Looked pretty good for a double bottom.  You ask your self.....do you double down to recoup your paper losses if you were hodling BTC?

But if you were following the crossover signal, it showed the bearish topping signal clearly as early as the first week in March. So the answer would have been a no.

You are right..the signal is a trailing indicator of falling price. But.....just like we didn't know we bottomed in December, 2108, until we saw the trend line confirmation months later, we didn't know that BTC had topped for sure in December 2017 until there was a clear technical signal...which the crossover gave as early as early March.  Nine months before it bottomed again. 

So it doesn't tell you how fast you fall or where the bottom will be, but at least you know the trend clearly. On March 1st it was clear the 2017 bull market was really over and new cycle was in play.

Any long term trend you identify can be monetized if you're a trader.

 

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Posted (edited)
18 minutes ago, Cooliozxrp said:

Basically this thread is full of TA "experts" whose predictions are all over the place so it's bound that one of them gets one correct...

That's BS. Defend your claim with facts or shut the f*** up and go troll on some other thread. I hereby call you out for trolling.

Edited by dr_ed

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1 hour ago, Cooliozxrp said:

Basically this thread is full of TA "experts" whose predictions are all over the place so it's bound that one of them gets one correct...

Please keep this thread on topic.  The folks here are enjoying themselves in speculation.  So, if you have nothing supportive to say there are other threads to leak vinegar.  Thanks!

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Mild uptick overnight, that seems to not quite be exhausted. I have some new momentum and trend indicators to post and talk about, which I'm playing around with......which are the Awesome Oscillator (momo) and the Ickimoku Cloud ( trend, momo, trade signals). I'll put up some charts when I get to work.

Everything green this morning, but just a bounce from oversold conditions. Not sure the stormy weather is over.

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