Meme-lines

finished 5 waves up.
hitting the 261.8 and 361.8 precisely.
now looking for a b c correction.

Attached: ew.jpg (1344x696, 615K)

potential play:
short from: ~8900
stop loss: 9075
target: 7788.5
risk/reward ratio: 6.35

how do u calculate this risk/reward stuff?

i cheat and use the short tool on trading view.

but to calulate it by hand:
it's 8900-7788.5 = a potential 1111.5 profit.
over 9075-8900= a potential 175 dollar loss.
1111.5/175= 6.3514

Attached: Screen Shot 2018-04-23 at 4.37.21 AM.png (1706x1096, 315K)

I kinda agree. The momentum is drying up. Resistance seems to be impossible for the moment. I also sold at 8950 yesterday.

But I am really wondering how this is keeping its level without going down.

Because its about to go up

>it could go down
>it could go up
in the end, nobody truly knows
it's 50/50
however making money off crypto is about identifying possible plays and taking a gamble

i'm here trying to find like minded people who increase their odds of winning and actually make money off crypto

Manipulation.

Op's meme lines mean nothing to the whales that control this market.

Reminds me of how it failed at 12k in the beggining of march. Volume got lower, but people still bought in because they wanted it to breakout. The march top was just 50$ lower than the february top, it really looked like it was going to break out. If we go below 8.7k lots of stops will be triggered.

>muh whales
kys

This really, we're not even in a bull or bear market this has been a gamblers market for the past month.

Literally all TAfags have about 2 or 3 charts with like "THIS IS WHAT BTC WILL DO BUT IDK LOL IT COULD DO THE OPPOSITE". You have to be a literal madman to make it atm.

lol no, we just finished wave 4, there is still wave 5 up, count better dude

This is wrong. You need to modify the outcomes by the probability that they come true. Basic game theory. Otherwise you may as well just say you'll set a price target of $0, and whoa look at that MASSIVE risk/reward ratio!! I understand that P is hard to determine but you can't ignore its existence in the equation.

V = P(B) + C for each outcome.
V: value
P: probability
B: gain (or loss, if negative)
C: other benefits to the particular outcome extrinsic to the actual dollar gain/loss, quantified (normally this is $0)

>Manipulation
i agree whales control the market and can fuck btc or make love it, but in the end they are still here to make money
>meme lines mean nothing
then explain to me why wave 3 hit ~8400 (the 261.8 fib extension) and the next wave hit exactly 9075 & 9072 (the 361.8 fib extension)

idk i counted 5
what's your count?

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Are you assuming anyone on Jow Forums actually knows what an edge is or trades thinking in probabilities? Are you assuming anyone on Jow Forums actually has an objective trading methodology that can be repeated over and over delivering consistent results from a random series of trades capitalizing on that edge? Or is Jow Forums just a bunch of faggots high on hope-ium who have no real idea of how the market works or how to trade properly.

It really means nothing, there isn´t a single TA in the world that predicted the pump from 6.6k up to 8.5k + , yet OP uses those graphs as reference for his next TA memes, like the previous movements made any sense in the first place. During the last weeks we could see daily TA wizards showing how it would correct at 7k, then 7.8k, then 8k and so on. All wrong. Sure maybe OP got the right one now, but in the end it´s all a big gamble, and those line barely increases your odds at all( if any ) considering how this markets works.

Interesting, I went short at ~8950 last night, it went good, so I put a stoploss in at a ''reasonable'' target of 8895 expecting it to go down further. >:( you guess what happened as I went to sleep. But to my suprise it actually climbed back into 89'

We're overdue for a correction imo, though there are arguments for an impulsive wave up to 9200

That's kinda what the TA is for pals. Or are you assuming this market actually has probable outcomes when btc is devoid of fundamentals?

I think the best is just to accumulate quality shitcoins in this market

Are you assuming something needs to have fundamentals to be predictable?

You do understand the market is just the aggregation of human behavior yeah? You do understand humans make the same decisions, same errors etc over and over. You do understand the chart tells you everything you need to know to produce profitable outcome yeah?

No you don't understand that, because you're an idiot. No shit that is what TA is for, it's for creating a plan using whatever technical indicator crap you decide that produces a positive expectancy over a number of trades.

But to add to that TA is mostly garbage, everyone and their dog is trading the same patterns, indicators etc. Learn to read price action or struggle to become profitable over the long term.

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>no shit it's what you said
>you're an idiot
Just shut the fuck up. You sound like a complete mong.

Yeah a complete mong that's been making a living from the markets for about 8 years now before all you crypto fags came and started pretending like you know how to trade because you can send a buy order.

You should be buying PFR instead of whatever crap youre holding. Their mainnet comes out on April 30th. Do you realize that Localbitcoins now has KYC? Do you understand that once PFR is out, people will all jump ship to avoid having to upload documents? People kept doubting the project but these guys deliver. Do you want to be poor forever.