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venzen replied Feb 5, 2016Another Fib extension added to the previous gold chart. The 1.618 extension confirms the breach level, and the 2.618 extension level seems right: $1,204 image
Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
Scott! The one and only! Good to hear from you and I should say: "I've been better", but due to the state of things and the stage of global economic devolvement, I'm doing well by comparison!
A lot of shorting these days, but my temperament ...Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
One way of looking at it is that a market chart is a graph of buying and selling behavior and an expression of the collective behavior of everyone participating in the market. Behavior originates from psychology, and the human being, with its ...
Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
I make a few statements, which in particular is nonsense? Arguably, all perception is selective, and subjective. I'm not quoting a study or survey about how many bank traders use Fib tools and to what extent, if they do, so my statement that I've ...
Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
Ponzi Jr, its relative to your trading method. Your method might use, for example, the following criteria for opening a long position: 1) MACD crosses its signal line 2) RSI has just diverged from a price low 3) Stochastic is rising from oversold ...
What is a 'high probability' trade?
- venzen replied Feb 5, 2016
I've heard bank traders say that their trading day is so hectic that they just don't have the time to sit down with a Fib tool and measure and analyse. They just try to memorize which client needs which order filled and try to maintain a mental ...
Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
Nice tone. Carry on like that and someone with the say-so might moderate your post. I suspect you might not have read my post just before your's prior to responding. However, even if you did, I don't take offense because I'm not the Guardian of ...
Where is the logic behind applying Fibonacci to trading?
- venzen replied Feb 5, 2016
@Hanibal and @iaveight have provided the factual information about Leonardo Fibonacci and the general prevalence of Phi, 0.618 and its complementary 0.382, in human perception, nature and the mathematics of the universe. Its important to note that ...
Where is the logic behind applying Fibonacci to trading?
- venzen commented Feb 4, 2016
Based on your two sentences quoted above, I could say the same to you, but let's rather speak specifically: We agree the Fed prints money out of thin air. However, do we agree that they are not printing physical cash notes? What you refer to as ...
Dollar Plunges Most in 7 Years on Rate Bets as U.S. Stocks Drop
- venzen commented Feb 4, 2016
I agree with your summary of the major vectors acting on the USD and you say the critical word: deflation. As you say, the dollar can only be undone by the Fed, and the Fed (whether the outcome shows them to be clever or foolish) were the first to ...
Dollar Plunges Most in 7 Years on Rate Bets as U.S. Stocks Drop
- venzen commented Jan 27, 2016
The first sentence is a triusm: "Successful reversal trading is 90% waiting and 10% execution" that is expressed by trading legends. However, its one thing to propose a method and another to say its a winning method. The author should provide the ...
Reversal trading 2.0 – The 4 step process to the perfect reversal trade
- venzen replied Jan 20, 2016
Thanks for the update and wave count Basill. I also see the possibility: a return to the level of the late-Nov consolidation base near $300 and 2000 CNY. Then an extended 5th, eh?
Bitcoin technical analysis
- venzen replied Jan 20, 2016
BTCC 1-day chart: The last price low made strong RSI reverse divergence to the late-Nov base of advance, forcing a reversal to the upside. The stochastics are turning up (magenta circle) and price is back above the 1day 20MA (green). However, there ...
Bitcoin technical analysis
- venzen replied Jan 20, 2016
Hi andoseg2, thanks for the regular updates and green pips for the trade! [
]Bitcoin technical analysis
- venzen replied Jan 17, 2016
If one looks at it from a trader's perspective that's not a flaw or a contradiction.
Bitcoin can do both: $50 and $600 within weeks or even days. The reason why this instrument is so volatile is because it is floating freely in the open market, ...Bitcoin technical analysis
- venzen commented Jan 17, 2016
sigh... Note that Hearn is not referring to any technical aspect, but alleges that the concept of Bitcoin is broken: Mike Hearn, the mediocre and argumentative developer has sour grapes because his fellow devs wouldn't turn Bitcoin into a Visa ...
Is bitcoin broken? Prominent developer cashes out
- venzen commented Jan 16, 2016
Mike Hearn is a well-known drama queen. It's hard to take anything he says seriously because he is prone to exaggeration and rarely speaks science and facts. For example, if someone did not know this about Hearn, they'd read hyperbolic quotes by him ...
A recession worse than 2008 is coming
- venzen commented Jan 16, 2016
Mike Hearn, the developer referred to in the article, has made himself a pain to work with for several years and (as reported above) continues doing what he does best: agitating arguments, fomenting division, and constantly nagging instead of coding ...
Has the 'Bitcoin experiment' failed?
- venzen replied Jan 16, 2016
Perhaps, for those who get a lot of information from the mainstream media, there is still a perception that Bitcoin use is restricted to rebel-geeks and conspiracy theorists, but here is the same mainstream media with some light, non-computer ...
Bitcoin - Reality check for the naives out there