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Eric123

Epic Pennant on BTC Chart

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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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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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Bitcoin is moving exactly as I expect, It's two steps forward one step back. (step back was yesterday & day before) now we start moving forward (probably). I've been in crypto for years so I remember when a $300 dollar move in bitcoin was huge, the fact that it's not a big deal now is awesome.  Eventually $3k and later $30k daily moves in the price of bitcoin will just be an everyday occurrence that basically go unnoticed.      

Using this opportunity in the dip of XRP to Double up on my XRP buys.  

7 12 19.png

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I'll go straight to BTC. In the hour since I woke up things have already started to turn mildly down on the 30 minute chart. This time frame is fairly important to look at if you're trying to trade.

I was just thinking about how chartists used to spend hours drawing things we can now point and click, We should ALL be students and learn this stuff, imho . It's so much easier for us, internet people. We should be the best informed investors of all time. All you have to do is learn the patterns and signals, once you master some easy software clicks.

1211541956_ScreenShot2019-07-12at7_25_39AM.thumb.png.4657c6cd889d82671546193fc5fa0fb6.png

These are the two new indicators I'm fooling around with. The way these momentum and trend indicators work is pretty easy to understand

They plot a short term moving average of price (MA) against a longer time-frame MA . 

Depending on how fast the short term MA is changing versus the longer term one, you get your momentum. Depending on whether each is going up or down at a given time shows trend. These patterns are meant to make decision making easy.

The thing I don't know (but experienced crypto traders no doubt do know) is the exact time frames that work best for a given asset. The time frames I'm using are defaults on the Bitfinex charting software.

When I saved this chart a few minutes ago, the Ichimoku cloud was giving a mild sell signal. I'll go over that a little later,

On the Awesome Oscillator, you can see two examples of what AO techs call bullish Twin Peaks from the last little green run earlier.

 

Edited by dr_ed

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Heres ETH, taken at the same time. On these charts, this is already old info, but I'll post the 30 minute chart from the same time as the one above.

1505508259_ScreenShot2019-07-12at7_24_59AM.thumb.png.5687d231c9150a9034502f4bfc080711.png

Also a mild sell (it's because the chart is falling into the cloud from above). The upper and lower bound of the cloud would be where your stops should be.

Thus is not a great short trade, because the cloud is too narrow. Red cloud is bearish. Falling cloud is bearish. The only thing good for longs to see is that part on the far right that shows the cloud greening and starting to rise..

There is one mild Twin Peaks o the AO that signaled the last little pump.

A Twin Peaks pattern is a  big peak followed by a small peak, with the AO giving a red bar after the peak. If the peaks are below the zero, the Twin Peaks is bullish. If it happens above the line, it's bearish. So the one in the middle of the AO was a mild bullish signal.

All these oscillators that pass up and down through the zero point are set up to show you bullish and bearish cross-overs to pull the trigger on your trades.

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51 minutes ago, Eric123 said:

Bitcoin is moving exactly as I expect, It's two steps forward one step back. (step back was yesterday & day before) now we start moving forward (probably). I've been in crypto for years so I remember when a $300 dollar move in bitcoin was huge, the fact that it's not a big deal now is awesome.  Eventually $3k and later $30k daily moves in the price of bitcoin will just be an everyday occurrence that basically go unnoticed.      

Using this opportunity in the dip of XRP to Double up on my XRP buys.  

7 12 19.png

Hi Eric there is a bit of hysteria with Ripple and/or Mr. Larsen selling XRPs 

Does it influence your view on XRP price or you are purely TA guy and base your assumptions mainly on TA and crypto assets speculation (due to utility driven demand is not here anytime soon)

 

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