My knife catching on ETH/BTC was a success, but this party is just getting started.
This chart is what I've been using for ETH/BTC lately.
I'm publishing it now as I have confirmation that 0.040 held just fine.
The count violates some fundamental EW laws. However, I refuse to believe that they are flawless especially when it comes to small waves on a pair like ETH/BTC.
The reason for selling and buying back higher is to limit risk as my count can obviously be wrong. Also, it reduces margin fees and ensures that I don't miss the train.
These are small ladder asks and bids where I sell below psychological numbers and buy above them.
The projected waves are by no means, accurate projections; therefore anticipate on the spot.
This chart is what I've been using for ETH/BTC lately.
I'm publishing it now as I have confirmation that 0.040 held just fine.
The count violates some fundamental EW laws. However, I refuse to believe that they are flawless especially when it comes to small waves on a pair like ETH/BTC.
The reason for selling and buying back higher is to limit risk as my count can obviously be wrong. Also, it reduces margin fees and ensures that I don't miss the train.
These are small ladder asks and bids where I sell below psychological numbers and buy above them.
The projected waves are by no means, accurate projections; therefore anticipate on the spot.
Trade active
Simply amazing.Trade active
Downthrust, although unexpected wave 2 of 3 can retrace 99%.If you haven't already, this is a great entry point with stops below 0.040.
Take care; there are more significant forces than TA in play here.
Take a look at ETH/KRW prices. They show the power of ETH/BTC very clearly as Koreans do not suffer as much from this money printing scheme as the USD markets do; therefore they outperform us.
Note
Wrong count? Possibly, manipulation? Certainly.bfxdata.com/positions/ethbtc
Sell or monitor, no stops.
Trade closed manually
Closed this one, lesson learned.Always find an indicator that would deem your count invalid and stop out regardless of the situation. Else, you're going to be biassed and find reasons for your position to be on the losing side.
Good job BTC_Joe, he was right.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.