as I pour over the charts this morning, I see lots of potential going forward. It has only been a few days since exiting our last setup and the market is starting to offer new ones for consideration. I think I mentioned we had a nice double bottom to work off of recently and as one can see from the 4hour chart, that has hit its 50% objective. It represented a little too little reward vs. the risk so I decided to let it go - figures...lol....actually, I am more than ok to let it go as I am pleased to see myself stick to my trading plan.
To that end, I now see a nice trading plan setup developing here on BTCe. The BoT, as outlined here: docs.google.com/presentation/d/1DY-LGVBMLx2yngfl92bgxndN9srJQF03xeGxrHFX2ng/edit , is a nice model to play potential bullish or bearish ab=cd harmonic patterns. Off this chart, I would be more than happy to take the setup on a bullish resolution through 629.05. Risk reward levels are noted on the chart.
On a closing note, here is something more interesting - the 1 hour chart too has a bullish BoT setup working. Its validation will also come on a bullish resolution through its current consolidation: But you will have to subscribe to my fee site (very small monthly sum payable in BTC) for that analysis....here is the adr if you are interested: therationalinvestor.co/?page_id=28
07/17/14 - with a successful test of the above mentioned BoT long setup lows ($603.70) this pattern is still very much alive and active. Should price move through the activation level (629.60) I feel confident in the setup. As per today's YouTube video (youtube.com/watch?v=Duzvha-nqGQ ), for the purposes of my PAMM service, I will be taking the long. Open orders to buy at $629.60 with stops just below $603.69. Target is $705. Risk is $26 while potential reward is $75 or just about 3:1. Updates will be posted should fills occur.
Cheers,
Brian
kwest
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I like your new website. Much, much better than the old one.
CRInvestor
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aw, come on, everyone likes the 1980's.....lmfao
lukas.o.chudy
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Brian, are u in this trade? My entry was a little earlier and now, it doesnt look so bullish :-/ But i am waiting until my stop (608) or target (706).
Kilgore
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a tree-shake before the next up maybe?
lukas.o.chudy
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in fact i am considering adding some positions. but it would be agains my trading plan... temptation
Kilgore
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I am in already, hopefully I will not get burned... stop also around $610 as CRI, just in case
CRInvestor
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hi there,
I will refrain from posting comments individually here. This is a general post, if you want to talk to me specifically about a trade then please feel free to come to my site and join the members group or join the school and get one-on-one help.
cheers
Kilgore
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sorry CRI, did not know that: you can delete my message if you find it appropiately.
CRInvestor
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fwiw, $629.05 was never broken so the above mentioned pattern has yet to be validated
Cheers,
Brian