Here is a continuation of the on-going analysis on this $BTCUSD / #bitstamp cryptocurrency - See prior analysis right here:
"BitStamp Tending To 260 Forecast:
As you may know now, that forecast held on the ground of the "OffSet Rule" of the Geo , where the idea was to determine whether price would rise any further than the current Point-4 of the larger geometry.
As per the Geo's Off-Set Rule, Point-4 was regarded as the high-probability level of attainment, since the rule #2 suggests that:
- If price reverses from Point-5-prime (5'), then price will seek to reverse to the price level corresponding to Point-4 (the smaller geometry in the current chart, as its highest probability attainment.
For a frame-by-frame review of this concept, simply follow this link, which should guide you directly to the discussion and review of that forecast:
Following is the current chart, at time of this writing:
Following is the social media share and last note on prior thread - This thread has been move to this current page, so as to keep the conversation and analysis clear into a new month:
02 JUL 2015 - UPDATE:
$BTCUSD / #bitstamp offers a bird's eye view of the probability:
$BTC $USD #bitcoin #forex
Predictive Analysis & Forecasting
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This HIGH;LOW remains in effect. In terms of exact numbers, I do not believe there is a ratio I would be able to arrive at without making it up.
In terms of trading (for a short-term, SHORT position), I would recommend the following:
1 - STOP-LOSS at Point-4 (in BLUE) + Spread + a few points above (to avid getting hit at the ASK)
2 - WARNING at the CLOSE of the candle that validated Point-4 (in BLUE)
3 - HIGH-Prop Target (IF price did decline, of course) = Fibonacci Cluster from:
- - 3-4 Leg downward extension (here, look for 1.414 to1.618 range)
- - 1-2 Leg downward extension (here, look for 1.272 to 1.414 range)
A good method would be to release 80% of your SHORT position (again, this is assuming the directional condition where price would decline) and maintain 20% until price would HIT the 2-4 Line projected off of Point-3 (defining Point-5').
This 80/20 strategy assumes that in most probable time, the Geo would complete in the following vanishing probability (i.e.: from highest to lowest frequencies), including the Geo's Off-Set Rule:
1 - Point-5' completion, then reverse to the price level corresponding to Point-4;
2 - Point-5 completion, then reverse to the price level corresponding to the 1-4 Line (also, known as the "Take-Profit" Line in the Wolfe Wave strategy);
3 - Point-5'' completion, then reverse to the price level corresponding to Point-3.