Rules for weekly income (crypto)

[Munted]

Is BTC on the rise?

My friend Karl tells me that if BTC breaks through the upper trend line there is a 70% chance of hitting 10k soon.

I don't know where he gets these figures.

I hope he's right, though.



(the trend line is the angled white one, not the horizontal line)

[Farangrakthai]

My friend Karl tells me that if BTC breaks through the upper trend line there is a 70% chance of hitting 10k soon.

munted: you have a $10,000 position in eth/btc, right?

you're still holding it, right?

you want eth to get stronger and btc to get weaker.

I don't know where he gets these figures.

I hope he's right, though.

[Munted]

you want eth to get stronger and btc to get weaker

I know what you are saying.

It's too early to jump the alt ship just yet.

A BTC bull will for sure be a better thing even if incurring temporary loses on alts.

[Munted]

The last week of BTC has seen a downtrend. But amongst the gloom, it has been possible to pick up a nugget or two.







Altogether 18451 THB. OK for 10 minutes 'work'.

ETH is also on track for a payout. Although best not to plan your overseas trip just yet.

[Farangrakthai]

Altogether 18451 THB. OK for 10 minutes 'work'.

are you saying that's the profit you made?

or could have made, if you had actually done the trades?

[Munted]

Example of 40 SMA. (ETH/BTC)

ETH price continues to bounce off in text book example.

This is indicating that BTC is not having a good day.

Very nice price action here.

[Munted]

are you saying that's the profit you made?

I cannot disclose that as NZ tax department has a very long reach.

But what I can say is that if you are a BTC fan you should look for bullish engulfing candles to maximize your speculations.

[Farangrakthai]

well, munted:

Altogether 18451 THB. OK for 10 minutes 'work'.

one of those trades you said you wished you had made and the other you posted after the fact.

the eth/btc suggested trade hasn't hit the target point, yet.

right?

But what I can say is that if you are a BTC fan you should look for bullish engulfing candles to maximize your speculations.

it's interesting to look at (shows when buyers are overtaking sellers).

though, it's just one tool that a crypto trader should look at, IMO.

[Munted]

other you posted after the fact

I have posted the facts. You may not like them but nevertheless they are true.

the eth/btc suggested trade hasn't hit the target point, yet.

True, but if the 40 SMA continues to act as support, it is inevitable.

it's interesting to look at (shows when buyers are overtaking sellers).

though, it's just one tool that a crypto trader should look at, IMO.

Agreed, that is why I have introduced the 40 SMA, and also comment on fundamentals.

[Farangrakthai]

True, but if the 40 SMA continues to act as support, it is inevitable.

so far, resistance looks pretty strong at .085.

eth/btc 30 day chart:

[Munted]

so far, resistance looks pretty strong at .085.

Nice chart, but the price action is on the last two. Indicating a break-out.

[Farangrakthai]

but the price action is on the last two. Indicating a break-out.

you may be right about a break-out today or in the future.

but, you said 4 days ago the bullish engulfing candles indicated that and they were wrong.

A bullish engulfing candle does indicate a potential break out above the upper trend line.
Certainly worth a 3% position.

For the skeptics amongst you, please note the time in the top left hand corner of this post.

unless you're saying the bullish engulfing candles on a 4 hour chart were predicting a break out 4 days down the road.

;-)

[Munted]

BTC looking like further decline, possibly to 6500 after 20 hrs of failing to convincingly breach upper trend line.

[Munted]

you said 4 days ago the bullish engulfing candles indicated that and they were wrong.

Once again, you are stuck in that mode of requiring resolution within 24 hrs. That will happen sometimes.

But most likely not.

I have posted for you and others the BE rules.

They are completely transparent.

4 hour chart

The 4hr chart is a trading chart.

No, it does not specify a successful resolution in 4, 12, or 100 hrs.

It's usefulness is rather that it will indicate a successful resolution within the specified time period of the rules.

[Farangrakthai]

It's usefulness is rather that it will indicate a successful resolution within the specified time period of the rules.

you opened the trade 4 days ago when you posted this:

A bullish engulfing candle does indicate a potential break out above the upper trend line.
Certainly worth a 3% position.

For the skeptics amongst you, please note the time in the top left hand corner of this post.

munted, in case you don't understand the candle charts, the bullish engulfing candle is indicating at that time that buyers are overtaking sellers. it is definately not indicating what will happen 4 days down the road.

once again (like your btc/usd trade), your "bullish engulfing candles" have let you down on your eth/btc trade and gave you the wrong signal.

the candles gave you the signal, you bought (supposedly), it went up 100 points (below your target) and then it fell a few hundred points and hasn't hit your target, yet.

No, it does not specify a successful resolution in 4, 12, or 100 hrs.

[Munted]

you opened the trade 4 days ago when you posted this:

But that quote does not tell you when it will successfully exit.

It is neither a short time or a long time. It is flexible, within the rules

it is definitely not indicating what will happen 4 days down the road.

Incorrect, you should familiarize your self with the rules which have previously been posted.

[Farangrakthai]

incorrect, you should familiarize your self with the rules which have previously been posted.

munted: you can't make the rules yourself about what the "bullish engulfing candles" tell a trader.

and bullish engulfing candles on a 4 hour chart are definitely not predicting the movement of the price in 4 days time.

you know that, right?

[Munted]

you can't make the rules yoursel

True, go to the post where the rules are published.

Anyone can verify the facts for themselves.

[Farangrakthai]

i don't need to as i already know this:

bullish engulfing candles on a 4 hour chart are definitely not predicting the movement of the price in 4 days time.

basically, on your btc/usd and eth/btc proposed trades, the bullish engulfing candles were wrong as the price didn't go up high enough to hit your target price after you proposed opening a position.

you waited a few days and it hit your price.

though, this is due to luck, not the 4 hour candle chart from days before.

[Munted]

the 4 hour candle

You are totally naive if you believe the 4 hr actually indicates a trade within that time frame.

you waited a few days and it hit your price

Yes, that is how it works. It's called swing trading.

A totally foreign concept to you it appears, but is actually quite common.

due to luck

Luck, not. Good management, yes

[Farangrakthai]

You are totally naive if you believe the 4 hr actually indicates a trade within that time frame.

all the bullish engulfing candle is doing is showing you that buyers are more numerous than sellers.

how does a bullish engulfing candle predict what the price will do in 4 days time?

here's an example: your btc/usd trade:

do you think your bullish engulfing candles predicted the price would go up a couple hundred points (not hit your target) then fall 4-500 points, then 4 days later it would hit your price target?

you really think your candles predicted that?

btc never hit your target (posted after the fact) of 8808.

it hit 8750 and then fell to 8405.

or your original target of 8900:

Originally Posted by Munted
It might be a good plan to get out around 8.9k

the long red candle in this graph is what happened to btc/usd after you suggested a buy at 8546 and getting out at 8900.

it went back up later: due to luck or a prediction from your bullish engulfing candles?

[Munted]

all the bullish engulfing candle is doing is showing you that buyers are more numerous than sellers

It is that, and much more.

Bullish Engulfing gives you a green light to enter the market, and then exit it 3% later.

That might be any time up to 20 days (the rules, as previously published)

The time period is up to the market and is totally out of my control.

No, I do not have a crystal ball.

it went back up later: due to luck or a prediction from your bullish engulfing candles?

I have never claimed 100% success with this method.

I have consistently informed readers that due diligence is required.

[Farangrakthai]

it went back up later: due to luck or a prediction from your bullish engulfing candles?

I have never claimed 100% success with this method.

sorry, munted: but, you're 0 for 2 so far (with the trades you've suggested in real-time).

the second one is the eth/btc trade:

Certainly worth a 3% position.

For the skeptics amongst you, please note the time in the top left hand corner of this post.

on may 16 (after seeing a bullish engulfing candle), you suggested buying eth/btc at .08358 and selling at .08599.

so far, resistance looks pretty strong at .08500.

eth/btc 30 day chart:

so: eth/btc never broke .085 to hit your target of .08599 and is down 8% today:

eth/btc 30 day chart:

[cyrille]

He does have a point, munted.

[Dillinger]

sorry, munted: but, you're 0 for 2 so far

Munted's not been seen for 3 days. Hope he's not keeping all those bullish engulfing candles to himself