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  1. #26
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    20:00 UTC: Saw a good size correction of BTC during the day, making a lower low on the 4 hr chart. Hopefully the Asian market can push back overnight.

    If, as suggested above, you did get out into the relative safe haven of exchange fiat you should probably stay there for a while. Yes, BTC is crawling back up, but at a pace less than convincing. Additionally, it is below the major trend line by about a margin of 1 - 1.5%.

    BULLISH ENGULFING HIT, due diligence required.

    - BCHUSD , presently selling for $1705
    "The urge to destroy is also a creative urge." Mikhail Bakunin.


  2. #27
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    20:00 UTC: A brief rally by BTC might indicate a bounce off a weak support of $9240 or thereabouts. This was established with no real substance around the end of May.
    But the rally is quite weak, considering the bulls have had all day to have a go and there is only 4 hrs to go to the end of the UTC day.

    Some chart analysts suggest that a more realistic number is around $9100.

    I would be inclined to start layering my buys from this point

    Although one positive is that USD pairs are trending up, often a canary as to which way BTC will go.

    BULLISH ENGULFING HITS, due diligence required.

    Attached Images Attached Images

  3. #28
    Cenosillicaphobiac
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    Quote Originally Posted by Munted View Post
    BULLISH ENGULFING HITS
    You keep saying this.
    What does it mean in English?

  4. #29
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    Quote Originally Posted by Munted View Post
    Always establish your exits prior to entering the position. That's it.

    For instance, I have got some good success at entering positions when my bullish engulfing indicator informs me I should. (Of course, must also do some other TA)

    On the close of that indicator I will then set a profit margin of 3%

    And a stop loss of 10%
    Are you suggesting:

    DYDD/ Analyse and identify a possibility of a trade.
    Choose an exit point (Price).
    Add an additional 3% above your exit point.
    Close your position manually at your exit point + 3%, or automatically let the stop loss point activate.


    Or are you accepting the 3% from your entry point profit?

    If your trade isn't working do you exit it and immediately trade in the opposite direction or wait.

    I found the waiting to "pounce", in or out, the most difficult time. Either to take your profit now, or waiting for the trade to recover.
    A tray full of GOLD is not worth a moment in time.

  5. #30
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    Quote Originally Posted by Plan B View Post
    You keep saying this.
    What does it mean in English?
    Bullish engulfing is a candle pattern found on a trading chart.

    The bullish engulfing pattern looks like this.

    Attached Images Attached Images

  6. #31
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    Quote Originally Posted by OhOh View Post
    Are you suggesting:

    DYDD/ Analyse and identify a possibility of a trade.
    Choose an exit point (Price).
    Add an additional 3% above your exit point.
    Close your position manually at your exit point + 3%, or automatically let the stop loss point activate.


    Or are you accepting the 3% from your entry point profit?

    If your trade isn't working do you exit it and immediately trade in the opposite direction or wait.

    I found the waiting to "pounce", in or out, the most difficult time. Either to take your profit now, or waiting for the trade to recover.
    You add 3% to the closing price of the engulfing candle. A closing price of 1000 is then going to give you a limit or sell price of 1030. (This is your profit)

    Next, minus 10% from the closing price of the engulfing candle. Our above example gives you then a stop-loss of 900.

    So you have entered and have also set two exits, one (the limit) is your profit, the other (the stop-loss) is your loss if the market should go down.

    Let it run. If neither the stop-loss or the profit target is executed within 20 days, close it off.

  7. #32
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    That ration of 3% if profitable and 10% if a loss makes for a positive income over time?

  8. #33
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    Quote Originally Posted by OhOh View Post
    That ration of 3% if profitable and 10% if a loss makes for a positive income over time?
    it's close to what i do; though, usually 5% profit and 10% loss.

    it works: if you are buying above the support line when the crypto is trading in a range,

    then you rarely have to take the loss (has only happened to me twice in dozens of trades).

  9. #34
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    Thanks.

  10. #35
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    Quote Originally Posted by Farangrakthai View Post
    it's close to what i do; though, usually 5% profit and 10% loss.

    it works: if you are buying above the support line when the crypto is trading in a range,

    then you rarely have to take the loss (has only happened to me twice in dozens of trades).
    Interesting. An extra 2% would be good. How are you determining your support lines? What are the most reliable in your opinion?

  11. #36
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    Quote Originally Posted by Munted View Post
    If neither the stop-loss or the profit target is executed within 20 days, close it off.
    Correction, close off should be at 20 bars. If you're trading on the 4hr chart, that's 80 hrs.

    Just to note, many of these rules are cross-overs from the non-crypto markets. Adjustment is often required, due to the usual volatility of crypto.
    Last edited by Munted; 09-05-2018 at 04:05 AM.

  12. #37
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    20:00 UTC: Some positive action on BTC, hammer followed by bullish engulfing candle patterns have been formed. As mentioned in my previous report, we did see BTC hit US $9100, although the bulls did eventually drag it up to a level of $9190.

    It would be good to see some confirmation of a bull rally on the 1 hr chart, but unfortunately we are some way from that at this time.

    However, the number of bullish engulfing hits on the top 100 BTC and ETH markets has had a good increase. This may indicate an appetite for a turn.

    BULLISH ENGULFING HITS, due diligence required



    Of interest in the above is BCH, this hit being the third in as many days. Although the gain has only been in the region of 2%, so you might want to keep a close watch on it.
    NOTE: This list also includes hits BCHXBT - inverted hammer pattern, DASHUSD - hammer pattern.
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    Last edited by Munted; 09-05-2018 at 04:30 AM.

  13. #38
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    Here's a link to a very handy risk calculation spreadsheet (courtesy Philokone prior to him monetizing his advice)

    risk calculation spreadsheet

    get it while you can. He might stop access soon.

    This is what it looks like. It works a gem.

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    Last edited by Munted; 09-05-2018 at 10:20 AM.

  14. #39
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    Quote Originally Posted by Munted View Post
    BULLISH ENGULFING HITS, due diligence required.
    What happened to the bullish engulfing hits?

    Lambo just turned into a tank.

  15. #40
    Thailand Expat jabir's Avatar
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    I still own about a track.

  16. #41
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    Quote Originally Posted by Plan B View Post
    What happened to the bullish engulfing hits?

    Lambo just turned into a tank.
    08:00 UTC: Massive green BTC. Open to high, 4.8%. A rising tide lifts all boats.

  17. #42
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    20:00 UTC: Excellent turn-around by BTC, took some time making a gain of 2.25% over 20 hrs. Upper wick did not punch through 40 SMA, so cannot confirm that the rally will sustain.

    In addition, there are no Bullish Engulfing candles, even after a double check.

    I will do a special end of day 00:00 UTC report, if BE candles are picked up there.

    I hope you did make some profit yesterday, As mentioned yesterday, a 2% target would have been more appropriate, but better some gain than none.

    I am presently working on a hot tips contribution to the community, watch this space.

  18. #43
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    Consensus, biggest blockchain conference of the year, is next week.

    Traditionally it spikes then retraces.

  19. #44
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    Quote Originally Posted by Plan B View Post
    Consensus, biggest blockchain conference of the year, is next week.

    Traditionally it spikes then retraces.
    True, good chance it will spike through 10k.

  20. #45
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    If you're not convinced, this will sell you for sure because it's written in the stars.

    https://www.jessicaadams.com/2018/05...dictions-2018/


    The arrival of Uranus in Taurus will cause great upheaval next week.


    I wonder if size matters?
    If it's Dill's and Luigi's anus the impact could be nuclear.
    Ronald McDonald never sells to children. He informs and inspires through magic and fun.

  21. #46
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    Quote Originally Posted by lom View Post
    Lamborghini Diablo SE30 Purple - you know that you want one

    I can't think of anything more repellent. Only an ill-educated, coon footballing oaf suffering from protanopia would be so lacking in taste as to procure such a vehicle, never mind fucking lusting after it.

  22. #47
    Thailand Expat Dillinger's Avatar
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    ^

    I can, a dirty old grey haired bastard like yourself getting spitroasted by a couple of ladyboys on Pattaya beach.


    some things, like Lambos and lithe Thai chicks dont suit you old people.






  • #48
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    20:00 UTC; BTC tanks 2.75%, nearly back to where it was a day ago. There are very slim pickings for long players. If you have money in exchange or bank fiat, it may be sensible to keep it there.

    However, if you are of the short persuasion you can look forward to some profit.

    No Bullish Engulfing hits today, the second in a row, which indicates a generalized bear market may be digging in.

  • #49
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    Quote Originally Posted by Plan B View Post
    If you're not convinced, this will sell you for sure because it's written in the stars.

    https://www.jessicaadams.com/2018/05...dictions-2018/


    The arrival of Uranus in Taurus will cause great upheaval next week.
    May 15. Bring it on, man!

  • #50
    Cenosillicaphobiac
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    I guess if enough fools... erm... I mean people believe in investing through astrology it might actually come true.

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