goldbug1

goldbug1

Many new to trading and investing have trouble sometimes with a TA one day being bull, the next day a bear. Or one being Bull and one Bear in the same day! This not only causes confusion but a rant of comments from those that do no understand the difference. Let me explain as I see attacks through comments not only on my posts but others as well. Pointing out a...

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What a run, hit $5800+ in a day. We had a target of $6000 and we seemed to be starting to consolidate. I will be LOOKING to sell here as the risk to reward is just too good to pass up. I want to be clear. 1) We can still surge higher so I will buy back what I am selling around $6000 and will be monitoring the consolidation trade and will not be leaving my...

goldbug1

For the HODL investor. I want to clarify this is a long term perspective and that does not mean next week. Every one of the three companies shown with btc' was huge in the advancement of technology, as is bitcoin. So let's look at the charts but first I want to first explain market cycles. All market are cyclical. Whether it's gold', Oil', Apple', coffee,...

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It appears that we are topping out in wave 3 or wave X' of our cycle. I see many others are going or have gone short for wave 4. I think this may have been early based on the count I have as there was a possibility that we can double top or breake to an ATH' as wave (i) and (iii') in wave v was equal to the previous wave (i) and (iii') in wave iii'. But wave (v)...

goldbug1 Updated 

The resistance level of $4700 was broken with strength! which makes us go back to the chart and revise our counts. The TRUTH HURTS, my count was wrong! I'm not denying that by any means. But this happens to the best of us and we knew this was a possibility. Since $3500 we provided a count that went to $4400-4600 where we expected a final correction was likely. We...

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This is where patience and money management is critical. We went to cash before the alt-coin crash and though we missed BTC from $4400 for $4800, I would rather miss a trade, and be patient than force a trade with uncertainty. Several core coins are offering an opportunity to provide descent short term trades to cost average our core holdings. I'm liking several...

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Be careful of continuation wedges and triangles they are not always a signal for a trend change and are often a sign in a down trend of bargain hunters getting in early which leads to a fake breakout. I want to add to my core but I may wait to see how the market reacts, as I missed the trade at the bottom. However could set up for a nice trade to $313 again. If...

goldbug1 Updated 

If you read my Sept 13th post I said "get rid of losers not your core holdings". Get that wallet trimmed up with only thoroughbreds is what you do during corrections. Cash is going to be king soon and as I posted I closed out all my trades prior to this pullback in altcoins. Nothing like sitting on cash when it's black friday! I like NEO here and have added a...

goldbug1 Updated 

I have changed from short to Neutral based on the last movement as it is about a coin flip at this point. I see many trade targets were hit and they are closing positions or close to this. Again this is not about being right or wrong. I think many new to trading think it's about being right or being wrong. That's not trading that's gambling! It's about keeping...

goldbug1 Updated 

For a month now we have mentioned a topping around $4400 and $4600, and about two weeks ago we narrowed that down to $4553. How do you get the 4553? Well it's just a number using Fibb, but amazingly market patterns are quite predictible. Sept 17th in the article on ETH "The Path Less Chosen" (when many were bulls) we drew a line in the sand at $313. Only a...

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In the immortal words of Thin Lizzy - the bulls are back in town!! Yes after not any sightings for days the bulls have suddenly appeared. I don't buy into this we are in the next bull run. Maybe I'm wrong and unlike many I put my insight out there to provide where I am proven wrong. I don't show one side of the story I show both. If you do not see my bull thesis...

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Fundamentally the mining community is planning a fork by the end of October, but it appears they still have some issues to work out. Though I have read about these issues I am not as tech savy as many of you, but I know I want to be in before the split. I think? I will rely on many of you that have more knowledge to share your thoughts. Why do I mention...

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Here is a simple low risk trade for some wanting to dabble in trading. There are several reasons I like this trade. 1) It pulled back to the 0.618 level after a 5 wave small movement and double bottomed. 2) It is starting to consolidate at the 0.618 level 3) It is not pegged to BTC does not necessarily move the same direction 4) It has market penetration and a...

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Good poker players make good market traders. The same fundamentals apply to both games. 1) You must control emotions 2) You must be able to manage your money roll (know what your able to risk for any specific trade/bet) 3) You must understand the probabilities of different outcomes (risk/reward) 4) You must be aware of hands that beat you (what chart patterns...

goldbug1 Updated 

Many are saying the bull has resumed, I politely and respectfully disagree as I see no indicators or any confirmation from breaking previous resistance levels. However as I have stated many times we do not trade nor invest on feeling alone we trade on probabilities. Price movement is not an indicator of a bull market as in any bull market we have selloffs and in...

goldbug1 Updated 

It appears at this point market sentiment is waning, not that price is indicative of market sentiment but BTC' did fail to hold the bullish channel. It aslo provided 3 points on the RSI allowing us to set a resistance line for it to break. short term the RSI resistance line broke the uptrend, but did not create a higher high, and is appears to be trading in the...

goldbug1 Updated 

NEO' has finally broken out of the consolidation channel and appears to make another bull run. Now this is the start of a bull run so we must be cautious as we know that running with the bulls can be dangerous if for some reason the rug gets pulled out. But we have several bullish signals which is enough for me to add to my position for a longer term trade....

goldbug1 Updated 

Bitcoin is very sentimental to many out there trading and investing in the cryptos. I see it in the comments. It's like your child, say something bad about someone's child, the wrath of a parent in denial appears. However, many miss the reality of life. No child is perfect nor exempt from the pitfalls of adolescence, just like Bitcoin is not exempt from market...