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 then your not reading the articles. I mention it in every one. $6000 is possible, but so is $2200. To ignore either one of these will lead to losses eventually. I will hear if this run fails from the bulls "The market is manipulated, I bought at $4400 it should have gone to $6000 and it didn't". Not my fault. Well quite frankly, It is your fault! Hence the reason I posted on my NEO article the other day, "I HAVE CLOSED ALL TRADING POSITIONS OTHER THAN DASH" AS THE WATERS ARE MURKY AND WE NEED CLARITY TO REENTER ONE WAY OR THE OTHER. I don't like swimming in murky waters as you don't know what lies beneath! This is documented not a hindsight trade! So where am I at positions wise 70% of my core holdings are still long term! I have not sold one coin. 25% in cash, I'm bottom fishing for deals. 5% in a DASH trade. Up 0.5% as we speak, but I will close that to and unlike many will post the trade!
It's more than just bars and bells. It's understanding the market! Let's take a look at a "manipulation" thesis.
The H&S was as obvious as the sun is yellow, and the sky is blue. New traders (and I see many) trade on these patterns alone not realizing they don't always work, and I warn about this all the time. Why don't they work. Well simple. The Whales see these too! You don't think they saw the H&S pattern and said to themselves "hmmmm looks like we may have a lot of short action here". So what happens?
Did anyone notice the $20 spread on some exchanges? I actually posted it. I thought this looks a little funny and I said I'm out! The buy sell spread was huge on bittrex where I was trading but managed to exit with a minor scratch. No bandaid or hot chocolate required.
It was the perfect setup for what I have mentioned over and over and what many call MANIPULATION by the large traders. (similar to them being on the button seeing a min raise, and 4 calls your holding 56 suited, you call, and with their stack size over bet 8 fold to clear the table, anyone left they get hit with the continuation bet, and if you didn't hit you fold!).
With an Obvious H&S pattern the shorts pile in to a short trade, on margin, with stops set slightly above or around the neck. When the dip happened, many move their stops as any good trader will do some don't. Not a lot of volume so all it took was one or two large traders to buy in as the shorts were singing dixie and force the market up, triggering stop losses. This leads to a domino effect to the longside, first the moved stops are hit, but the real evidence is at the neckline where many stops were placed bam the buying begins to cover their shorts. Look at the volume, The large green volume was not at the large bar, it was the samll one after. So here come the fish with the FOMO and no plan. Am I jumping on board? Heck no I want $4671 to confirm before I buy, and I know the bulls must keep it above the neckline. I'm out of the hand!! So if your piling in now you may feel pain later. let's see a difference in 8% to the breakout line. I'm willing to throw that in the pot, and would rather wait for a strong hand then play an uncertain hand.
If it drops we will here "ohh it's manipulated", NO it's you didn't have a plan your trading on FOMO. In addition you don't have the experience to recognize this happens in ALL MARKETS. Remember the AMD pattern, Gold, and Tulips? I would rather wait for a signal then jump in because I see a bullish 3 move pattern off a short squeeze area! That's gambling and not being experienced enough to recognize a possible short squeeze. See anyone else mention this?
It's more than just bars and bells. It's understanding the market! Let's take a look at a "manipulation" thesis.
The H&S was as obvious as the sun is yellow, and the sky is blue. New traders (and I see many) trade on these patterns alone not realizing they don't always work, and I warn about this all the time. Why don't they work. Well simple. The Whales see these too! You don't think they saw the H&S pattern and said to themselves "hmmmm looks like we may have a lot of short action here". So what happens?
Did anyone notice the $20 spread on some exchanges? I actually posted it. I thought this looks a little funny and I said I'm out! The buy sell spread was huge on bittrex where I was trading but managed to exit with a minor scratch. No bandaid or hot chocolate required.
It was the perfect setup for what I have mentioned over and over and what many call MANIPULATION by the large traders. (similar to them being on the button seeing a min raise, and 4 calls your holding 56 suited, you call, and with their stack size over bet 8 fold to clear the table, anyone left they get hit with the continuation bet, and if you didn't hit you fold!).
With an Obvious H&S pattern the shorts pile in to a short trade, on margin, with stops set slightly above or around the neck. When the dip happened, many move their stops as any good trader will do some don't. Not a lot of volume so all it took was one or two large traders to buy in as the shorts were singing dixie and force the market up, triggering stop losses. This leads to a domino effect to the longside, first the moved stops are hit, but the real evidence is at the neckline where many stops were placed bam the buying begins to cover their shorts. Look at the volume, The large green volume was not at the large bar, it was the samll one after. So here come the fish with the FOMO and no plan. Am I jumping on board? Heck no I want $4671 to confirm before I buy, and I know the bulls must keep it above the neckline. I'm out of the hand!! So if your piling in now you may feel pain later. let's see a difference in 8% to the breakout line. I'm willing to throw that in the pot, and would rather wait for a strong hand then play an uncertain hand.
If it drops we will here "ohh it's manipulated", NO it's you didn't have a plan your trading on FOMO. In addition you don't have the experience to recognize this happens in ALL MARKETS. Remember the AMD pattern, Gold, and Tulips? I would rather wait for a signal then jump in because I see a bullish 3 move pattern off a short squeeze area! That's gambling and not being experienced enough to recognize a possible short squeeze. See anyone else mention this?
Commentaire:
I made a mistake DASH is up 2% from out posted trade. I stand corrected. I apologize for making the mistake ;) And that is our only trade ongoing right now, as I have mentioned for at least 2 days. Cash will be king shortly, but I'm not selling my core holdings to create cash. This is why you have a balanced portfolio!!!
Commentaire:
Commentaire:
Using Trendlines to guage probabilities. The prevailing trend is down. The short term trend is down. consolidation triangle forming normally a continuation pattern. So I would tip it slightly that we move down from here, and test the neckline, however we could test the previous high. we could also trade horizontal I just don't think that is a high probability. It wants to go one way or the other.
Commentaire:
I love this trade by @Sean_Venegan, bull or bear this is a great setup. low risk high reward, just keep your stop tight!!
www.tradingview.com/...rent-4320-01-7Oct17/
www.tradingview.com/...rent-4320-01-7Oct17/
Commentaire:
If your in this trade, you just got chicken dinner! the consolidation is happening, a break down of the box I would exit, a break to the upside you ride the wave but do not get greedy. Remember this is a trade, not investment. If you made this trade, please give Sean_Venegan a shout out for providing the setup! bullets and brilliance from my buddy.
