goldbug1

goldbug1 Updated 

We posted back on Sept 6th a nice setup for a short term day trade out of the consolidation box that resulted in a nice 8% +- gain if you made it. But we also warned that it was still correcting and though it held on the resistance line for a short period of time it has since corrected as we anticipated. But today I looked at the chart and I like what I see. A...

goldbug1 Updated 

I see many post in the comments about a correction not happening till after the release of bitcoin gold. Ok I'm not a big on News driving markets more that markets move in cycles. So this morning I started seeing if there was a correlation between the June correction and the current chart which as we posted recently have similar patterns. Let's see if there is a...

goldbug1

Both Dash and the recent addition of bitcoin cash are in my core portfolio. I am taking this opportunity to add to one, and wait on another. The reason is simple as I explained in the NEO' article. CHINA! Bitcoin cash has many ties to China and anyone in the markets for any amount of time knows how China does business. Right or Wrong is not what I care about....

goldbug1

OMG' is another alt-coin that is setting up for a nice DAY TRADE here as well as a good opportunity to grab some for the long term! That red line shown on the 2 hour chart is about as stable as it gets. It has slowly been forming more extended triangle patterns which in itself does not constitute a trade, but the trend leading into the current one definitely...

goldbug1

Neo is part of the core portfolio, and though somewhat speculative, I have chosen to add it as I am willing to risk the speculation knowing how China operates. It is after all dubbed the Chinese Ethereum and I like the contract based currency for trade and barter. Who does more trade and bartering outside the US then China? China! And as NEO' is China based the...

goldbug1

There is a good reason options traders buy puts going into earnings season or large events. It's because normally leading up to the event you get an increase in the stock price. We see this with Apple all the time along with many others. But the simple facts are stocks and or equities in general tend to drop much faster than the go up after such an event. Even if...

goldbug1 Updated 

This is an supplement to the article this morning. Since this is a new crypto and has no history these are very preliminary projects, however, we have seen coins go up 1000% in months. Coins like ETH OMG NEO and LTC definitely come to mind. With even bitcoin.com posting an article (thank you @brrd for sharing that) detailing why Bitcoin Cash is truly the real...

goldbug1 Updated 

Many new to trading often overlook Market Conditions when trading and investing and focus on their favorite stock or in this case coin! Many that have been trading markets for years tend to do this as well. But having gone through many market corrections, 1987, 2000, 2008 to name the majors, there were clear signs to get your trading money to the sidelines and be...

goldbug1 Updated 

During the radio show this week, one of the long time miners and entrepreneurs in the crypto space made an interesting statement during a segment concerning Bitcoin Cash. It set me back in my thinking and the following day I spent a good half day doing additional research into the coin to see if I needed to add this to my core long term portfolio. What really blew...

goldbug1 Updated 

I get a lot of comments your always bear. Well actually I'm not. The reason many think this, is because the runs to the next Fibonacci levels are very quick. Oct 9th after breaking $4700 I posted the article a "next leg up". I had several target levels and the final T3 level was $6000. We got there pretty fast within 3 days. When we reach these target levels,...

goldbug1

This is a follow up to the earlier post and is something most forex and stock traders are always aware of, and you should be too when entering buy and sell orders. Round Numbers. We originally posted a week or so that if $4750 was broken the next target would be $6000. Nice round number. There is a whole psychological effect with people when seeing round...

goldbug1 Updated 

Nothing about trading markets is easy. But overall the market has remained in a correction (explained below) and has been very volatile making it almost impossible to predict. This is why I mentioned last week and again emphasized just 19 hours ago, why risk swing trading in volatile markets? Batten down the hatches, long term core holdings is all we are long in....

goldbug1

As we approach the upcoming 2 forks we want to monitor how this may have an effect on the market if we are traders. Most Investors have or will pull their money into the Bitcoin core version wallet prior to this, as recommended by bitcoin and other experts. But as a trader what can we expect? Segwit was created to free up space on the block chain allowing...

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...

goldbug1 Updated 

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,...

goldbug1 Updated 

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...