jago25_98
Long

astro 5m very short term

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
63 views
2
Very short term 5m long. Astrological... surely can't work...

Comments

What was this based on again?
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It's based mostly on anything I find forecasting USD. In this case I pulled out the time from an astrological website for USD, though I can't remember which site. So it wasn't my own analysis as to the timing. I guessed that BTC is even more emotional than USD so as soon as the timing came in that it will shoot up... though I didn't expect as much as this. Throughout from S-E it's like there's a brake on the trend up and as soon as we got out of that the price shot up.

Quite a lot I've got out of this. First, BTC is something people buy when they are feeling good, not bad. People buy it as an insurance so if stocks tank so will BTC. Therefore it is no good safety net that some people view it as.
The next thing is that USD still has a lot of reserve currency status and as such it's a currency people run to in risk off. As such, anything learnt from people trading USDOLLAR can be applied to BTC. It would be nice to overlay a composite chart of BTC rather than BTCUSD with USDOLLAR index to confirm.
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blimey! a resounding success. Didn't expect it to pop this far. Didn't pin down much for any SL either (not that I had time to really think about SL but that's where I would have put it if was trading it). lined up perfectly with previous low on the left of the chart. Massive volume. Just need to see if I can do this a few times to ensure statistical
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also overlaying EURUSD fall
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TP 571
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