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Gutfeeling

Ethereum trend cycle restartingWhile the market had to deal with a lot of sell-offs. Purportedly because of new regulations in India, a general recovery can be seen on the exchanges where the list of greens is getting larger. On this chart you can see that the downwards pressure has been quite strong, though decreasing since recently. But when you go further back in time, you can easily spot a growing upwards trend, so with the current trend cycling, and my own bias, have opened a long position with 75x leverage on 1620. I know there's a high risk in this, with a liquidation price on 1608 i'm most likely getting shaked out. However, it is hard to imagine Eth really going lower than 0.03 BTC right now. Generally speaking 0.03 BTC per Eth is a price that makes whales quite happy to buy some. And it will take quite some capital to push it further down 0.03 BTC, possibly triggering a panicking sell-off that might change the overall sentiment to bearish. Something really hard to imagine right now.. but actually very much possible looking at the ethbtc chart. If BTC stagnates on its current price level, we might see Eth trading below $1600 for a few days with a trading range of 0.025-0.03 btc per eth discovering. So right now, i'm making a decision based on my gut feels combined with some bullish indications very early in this hesitating market.
Long
by UnknownUnicorn12005085
3
Gut Felling in trading. How long it takes to " feel" the market?I hear many traders talking about gut feeling, especially when referring to very good traders. I hear them saying that you will, at some point, feel what the market will do next. Many explain it as a sixth sense or cannot it explain it at all. I say to them the explanation behind is a much simpler one. Gut feeling in trading, most of the cases, is nothing else but subconscious pattern recognition. There is nothing magic here, it is simply related to how the human brain works in day to day life. The trader looks at his screen for thousands of hours. Every day, he tries to analyze the price movements, while the brain stores the information in an abstract way into neural maps. Millions of neurons fire and wire together and create complex memory banks which include associated emotional responses. Day after day after day, these memory banks are reinforced and restructured until the neural maps are hardwired. This process is all subconscious. The part which is even more interesting is the way the human brain retrieves the needed information stored in those complex neural maps. This mechanism is also done subconsciously and this is why many label it as “gut feeling”. So, when a trader instantaneously “feels”, in an apparently strange way, what he should do when he sees a particular market event, his brain has subconsciously identified a store pattern. You may ask yourself: So what? What difference does it make knowing this? I say it makes. When you understand how your brain works you should also realize that you have at your disposal an extraordinary working instrument, but this will not guarantee your success by itself. Those neural maps need quality data. Programmers are accounted with the saying “garbage in garbage out”. It’s the same with the human brain. If you don’t put the true intellectual effort in your day to day market observations, if you don’t approach what you see from multiple angles, if you don’t analyze your own emotional reactions, then your neural maps will be built on superficial data. You will only reinforce all sorts of ineffective pattern recognition processes, no matter how long you stare at the screens. By contrast, if you do it right, your “gut feeling” will evolve and become very valuable. Evolving as a trader is not only a function of how much time you spend trying. What really matters is what you are really doing and how you are doing it. This explains why so many traders cannot become profitable even after years of trying. They are caught in inefficient and superficial ways of looking at the market. So many retail traders rely exclusively on technical patterns. They don’t understand what really moves the markets and how those patterns are formed. They spend years and years switching from a technical indicator to another, without realizing they are unconsciously accumulating only superficial data. Some realize the trap … most don’t
OANDA:XAUUSDEducation
by Mihai_Iacob
7
May the race for Top 10 continuePlaced my chip on Elrond too, quite some time ago. I feel the pressure to cash out, but if everything stays the same, I'll never change. DISCLAIMER: It's just my bet, I have my reasons. I make it public to apply as an analyst one day. If you want to know more, ask me in chat. If you liked it, great. If you didn't, great. Have a nice day either way and I hope you're getting where you're going to. QUESTION: Could anybody lead me to updated data on the US avg household expenditures? Thanks :)
ELong
by yabodo
4
Bitcoin bottled for a yearMy opinion on the area BTC will trade within. If the area is broken by more than a candlestick, then it's uncharted waters. However, I believe we have entered a relatively stable era of Bitcoin. It can be broken by heavy inflation of the USD. That would mean people would be ready to spend their savings, which is probably not the wisest idea from personal perspective considering the pandemic and terrible financial situation most households are in. Though I'm quite certain we'll see the hyperinflation once the storm fades, but most likely, it doesn't happen any time soon. Short (a month from now) term: Short Long term (a year from now): Ups and downs Longer term: Too many variables DISCLAIMER: It's just my bet, I have my reasons. I make it public to apply as an analyst one day. If you want to know more, ask me in chat. If you liked it, great. If you didn't, great. Have a nice day either way and I hope you're getting where you're going to. QUESTION: Could anybody lead me to updated data on the avg household expenditures? Thanks :)
BITSTAMP:BTCUSD
by yabodo
EOS MOON LAMBO ROCKET Finally!It looks like EOS has retraced all the way from its previous high and found a bottom around the last low on the Daily. From the Daily and 4 hour you can clearly see an Inverse Cup and Handle Formation about to complete. I expect a little downward wedge after completion, or maybe a little cup and handle, then this puppy it taking off. If you look at the 4 hour and daily TTM Squeeze they are firing long, and hard... Kept it simple this time. Not too many indicators. Patterns and price action baby. Good luck to all, Namnaste'
BITFINEX:EOSUSDLong
by SKYLOBSTER