Titan
Titan Breaks Out from Descending Triangle The price action broke out from triangle and followed up with big green candlesticks indicated strong buying pressure. At current prices, the price action may move down to 406 levels again as profit booking can be seen and from 406 levels new buying pressure will be asserted in price action to move upto 430 levels or to previous resistance.
Target: 432
Stoploss: 390
TITAN (NSE India) shorting opportunityHi All,
I follow Elliott Wave Principle for trading, I am a novice trader (trading since DEC-2015 using the Wave Principle). This is my first post/idea in the forum, so pls forgive any mistakes.
Below is an interesting chart. Request veteran traders to pls review and comment.
On weekly, TITAN has completed its X wave at 379. This X is continuation of correction started from 448 in feb-2015.
X is a complex zigzag in this case; both a of X and c of X are double zigzags.
Weekly chart:
Hourly chart shows completion of c of X.
Hourly chart:
So, shorting at 379 with stop at 382 target below 301.70 (i.e. below beginning of the X wave on weekly) seems a good trade.
Regards,
PT
Bitcoin's May Rebound and the release of KnCMiner's "Titan"Short until June.... It's the reality of the market right now. Low demand, China news, increasing difficulty for miners with dropping prices, regulation... these are all negatives for the currency.
KnCMiner will be releasing their Scrypt ASIC miner entitled the "Titan." It is my belief that many of it's first adopters will begin mining with their gear on multipools which auto-sell the most profitable altcoin for Bitcoin. With over $500 million in sales with KnCMiner the network hashrate will begin jumping immediately. Miners will begin cashing out, and the price of BTC will jump dramatically. KnCMiner has promised a delivery time of around Q2/Q3 which leads me to believe they will push these out until the end of Q2 or beginning of Q3.
The automatic buying pressure at that time should fuel the initial run and an automatic run for Bitcoin in the long-term until difficulty levels adjust and profits decrease.
