IvanLabrie
Long

BTCCNY: Bullish above 2210, aiming for 8818.35

BTCCHINA:BTCCNY   Bitcoin / Chinese Yuan
3606 66 47
Analysis on chart, risk 1-2% on each entry.
One at market now, and one at 2492.61, stop 2210 for both.
You can book partial profits at this month's high, if and once we retest it.

BTCCNY             is currently above the downtrend mode, and has created an 11 month buy signal, while RgMov is trending up and broke the all time high!
This is no small feat, BTCCNY             to the moon people.

For more information and insights into managing this position, scaling in, and understanding the logic behind the technical setups contact me via pm. I'm currently hosting a skype group, where I share trade setups and also provide traders with training, as well as 2 private webinars per week, and also giving tutoring via skype calls, on a one on one basis.
See the GBPAUD-0.93% idea for an example of the kind of work that I do.

Cheers,

Ivan Labrie
Time at Mode FX
Trade active:
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Downtrend failure, seems like buyers exist and are holding price up there.
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Up we go.
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Comment: Stamp view:

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Comment: BTCCHINA:

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Comment: Some selling pressure but no big player in sight.

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Buyers stepped in after the selling stopped.
2:25 hours to go. As long as not moving below the blue line, bullish signal might happen.
Wait for the close. Set alerts to indicate when the blue line is taken.
Comment: Heading for an inside day close I think.
Building volume at one price, drifting up and down.

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Comment: 4h has broken an important low volume support.
Careful if long.
You can cover half and wait...if stop hit, didn't lose 100% of the risk size, if not, it can still work.
Comment: Time ran out and target failed to get hit, we might be getting into a big triangle consolidation for a while.
Are you sure of this ? I mean I did a market order like you told and boum, the price drop by 10% ! I'm trying to get long but all theses fluctuations make me crazy. Hard not to sell, bounce have to happen...
By the way your predictions were good for now, so I'm confident.
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IvanLabrie PRO arnaudgaudin
The stop loss is 2210, I posted one buy at 2492.61 and 2650. The stop los distance is 11 and 16% already, so, it doesn't matter how much it fluctuates.
The trade can take 3 months to develop, easily, so you have to be patient with it.
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I'm looking for your blog but I cannot find it, do you have the url please ?
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IvanLabrie PRO arnaudgaudin
Hi, I'm posting trades here and also running a skype chatroom, where I provide signals and training to traders.
Either that or private tutoring.
In your case, you can contact me since I'm interested in starting a Bitcoin trading fund, maybe that can suit you.
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Xman IvanLabrie
can I join the chatroom? do you mind to tell me the account?
thank you, Ivan.
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Currently we discuss mostly Forex, Stock indexes, Oil, and metals. I will post educational material and provide traders with 2 or 3 webinars per week.
Contact me via pm please.
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arnaudgaudin IvanLabrie
Indeed I need some advices. I sold everything when your recommanded stop sell was met. Just loose $76 on this trade. I would be interesset in your Btc trading found. Could you send me details on PM please ?
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IvanLabrie PRO arnaudgaudin
What happened? The stop wasn't hit, it was 2210.
If we hit 2210 this month, you should be out.
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arnaudgaudin IvanLabrie
I trade BTCUSD on Bitstamp, so I converted 2210 to 348$. It was about to be met so I sold before at 355$... Sorry it was à panic sell.
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IvanLabrie PRO arnaudgaudin
Oh, no, for Stamp, the stop loss is 326. :(
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arnaudgaudin IvanLabrie
I have to option today : stop now and withdraw everything, because I'm tired of this, or just rebuy waiting for à bounce.
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IvanLabrie PRO arnaudgaudin
You could rebuy at the ideal Stamp entry price, sending you a pm.
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arnaudgaudin IvanLabrie
Ok I'm waiting for it. Thank you, I was about to withdraw everything.
+1 Reply
Ivan I think we will be testing 2250cny tonight or tomorrow then continue up what do you think?
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IvanLabrie PRO BitcoinGuru
The 30 min chart showed some exhaustion but I think 2210 is safe.
snapshot

4h gives me this signal, if it fails to be hit in time, it's a bullish signal.
+2 Reply
BitcoinGuru IvanLabrie
u read my mind i was looking at the 4H. I see you are also using time node like i do. thanks!!
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LESSISMORE IvanLabrie
Hi, Ivan. It seems your chart has market profile on the right side, may I ask how to construct it with which indicator? Appreciate for your analysis.
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IvanLabrie PRO LESSISMORE
You need a couple things, first a pro plus membership with tradingview, and secondly, you need the volume profile indicators on chart.
I mostly use the visual range one but also use the fixed range to capture individual swing's volume activity.
Really great tool, state of the art coding.
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BitcoinGuru IvanLabrie
Ivan so far your spot on. Were holding at 2460/2470 after failing to 2650cny due to top of last bear flag triangle. Still doing higher lows however, and viewing that bear time expires in few hours I bought in expecting more upside per your chart. Anything else I am missing? thanks
+1 Reply
IvanLabrie PRO BitcoinGuru
If trading short term, you bought and you can book profits at the resistance above.
Or you took the monthly trade and are simply monitoring the price action as we go.

I'd do both, but it's an involved process, so mostly longer term for me.
I have to trade other instruments on a daily basis, can't trade BTC intraday.
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PlayDefence IvanLabrie
Thanks for reply, IvanLabrie :-)
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Agree
+1 Reply
Will this work for USD too? Are we also aiming for about 1386 USD at "moon landing"??
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IvanLabrie PRO rivet.popper
I'd be tempted to think it will, would be strange otherwise.
The btccny rgmov readings are considerably more bullish though.
+1 Reply
rivet.popper IvanLabrie
Thanks. Perilous drops over the last 48 hrs, glad I held on. I assume the rising tide will raise western ships just as much.
+1 Reply
we closed 4H above ur red line but i think they are doing a quick trap under it before more up
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BitcoinGuru BitcoinGuru
blue line**
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BitcoinGuru BitcoinGuru
i see we held was a trap. Btw have you seen this megabullish Inverted H&S if we go to $400 this is playing out big big https://pbs.twimg.com/media/CTORB-HUAAA0g2l.png%3Alarge
+1 Reply
IvanLabrie PRO BitcoinGuru
Yes, probably a good trend continuation one, and might take a few days/month/months to form too.
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BitcoinGuru IvanLabrie
so officially our support is 380 or 2535cny for the next days/weeks/months but I guess we could always get some fakeout down if we dont pump up within this week or few days
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IvanLabrie PRO BitcoinGuru
No, for the next days until breached.
Stronger support is the box below.
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Ivan thank you for the constant follow up. very helpful keep it up. watching out 2535cny hopefully we dont visit it and we break out as I am expected. after that I think we will go back to 500 where the market should be.
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You have 420 as a target, you expecting price to go back to 350 area after?
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We're in a sideways range, we can't tell what will happen. We have to go bar by bar.
Monthly is clear, uptrend signal. 4h is not.
It reflects today's trader's thoughts mostly. Which are indecisive.
Also, lower liquidity day.
+3 Reply
BitcoinGuru IvanLabrie
indeed rejected few times by 2600 but still above 2535cny i guess were sideways/consolidation on the 4H. The 4H BB squeeze did not bring an explosive move upward as expected. maybe in few days? or maybe retrace to test 2300-2400 range?
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IvanLabrie PRO BitcoinGuru
The move up needs to cool down.
As long as we're above the highest volume node in the larger picture, trend might tend to be up.
+1 Reply
nothing happens..
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It's mostly sideways, the short timeframe traders are in control.
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Nice! that was a wishfull green one on the 4H
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I was looking at it before going to bed...We are in consolidation mode, downtrend's invalid.
+2 Reply
BitcoinGuru IvanLabrie
consolidation range: 2400-2600cny i suppose?
by downtrend invalid you mean a return to under 2400cny is not possible anymore.
meaning no more $315-320 as a lot are expecting? why would 315 gets ignored suddenly by time node, is that because 350-360 was a strong support long time ago (mode) and we held on it here again?
+1 Reply
IvanLabrie PRO BitcoinGuru
More or less.
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rivet.popper IvanLabrie
Wow, up to 3 months of this? Zzzzzz...
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Mmm you still sure about this? We're over 2210 but still drifting down...
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IvanLabrie PRO rivet.popper
Yes, monitoring a downtrend signal in 4h, we might drop a bit first.
+1 Reply
This is finished for now we resume the uptrend from 2200-2250 or 315-320$
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IvanLabrie PRO BitcoinGuru
I wouldn't now yet.
It's mostly volatile in short term timeframes, not trending orderly.
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arnaudgaudin IvanLabrie
Is seems it is just dropping again. Is 340 a safe support ? Even if SL is at 325, I wouldn't test it. Would have to get safe uptrend right now...
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IvanLabrie PRO arnaudgaudin
We will get a move today or on Thursday.
Downside is limited for now.
If we drop under 2210, we will go way lower, and we can buy then.
I'm taking small trades in my private group, we have taken two short term ones already.
The major trend isn't 100% defined yet. Monthly is, but needs smaller timeframes to align.
+1 Reply
arnaudgaudin IvanLabrie
I'll reply to you as PM.
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BitcoinGuru arnaudgaudin
and your welcome :) more down soon no go for 330-315
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hi! any update pour les pigeons?
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Salut, pourquoi tu dis ça ? Tu t'es fait pigeonné par Ivan ?
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arnaudgaudin arnaudgaudin
Ok par rapport à l'avatar...
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So where are we with this trade now? Under 2210 but bouncing well off 2000.
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IvanLabrie PRO rivet.popper
The monthly uptrend is a 55% possibility at this point.
I'll post my updated analysis in the weekly soon.
+1 Reply
BitcoinGuru IvanLabrie
its Bitcoin and time node cant predict shakeouts and manipulation effectively in Bitcoin. hence my post to u few notches up about us tanking to 330-315 before more up. ;)
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IvanLabrie PRO BitcoinGuru
I'd have to do a bar by bar analysis, I can't share this in public.
It's too much work, for free.
;)
We've taken a few trades, since I posted this monthly idea.
We have to wait 3 months, to confirm the monthly situation.
+1 Reply
BitcoinGuru IvanLabrie
were poor :P jk how much you charge for your private group membership out of curiosity (PM me if you want)
yeh I did time node analysis on the daily and it looks bearish for 11 days till sat-sun then we will see
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IvanLabrie PRO BitcoinGuru
Yes, but if target is hit, it usually goes sideways. Can even turn up.
Have to do a close study of it.
I'm charging 0.3 BTC for now, based on the current rates.
Hit me up via pm and I can show the trades I took this week.
Cheers!
+1 Reply
BitcoinGuru IvanLabrie
good rates! will do soon thanks :)
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Is this trade invalidated?
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rivet.popper rivet.popper
Ivan, did you buy when it went down to 2000?
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IvanLabrie PRO rivet.popper
Yes, for now, it's better to wait for a clearer signal.
I will post a new chart by Monday I think, I'm following it closely.
Will do a live coverage of it too.
I took a few short term trades with my group, didn't get a monthly entry in for now.
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Galvin IvanLabrie
We could just be in a retracement from falling from 500. I'm thinking around 400 before we resume down.
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I'll post when I have a confirmed setup. It's not quite there yet.
Better stand aside now.
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