ok so I think my longer term count needed updating, luckily it has moved in favour of my trades :) I reckon the fall from 300s is the beginning of wave5 down, of which we have only had wave I and II so far: I think this evening we will have a bit of further capitulation and margin calls to bottom wave III out(210-215 ?) and begin wave IV up (to 230s ?) ... then further doom ... dear oh dear! For BTCs sake I hope this rape(wave5) stops around 100s and moonlaunch does eventually materialise: some more hopium puhleez.
will start closing shorts around 215/if we break above 230s, and expect to short again at higher levels, though like the previous time, I don't expect the correction to last very long.
Comments
kumarz
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balls, I closed my shorts at 237, but am rebuilding shorts coz my count here was pretty much correct but I overleveraged on the way down and couldn't handle the margin calls: DOH. Anyway, revised my count slightly to this:
kumarz
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perhaps I am biased coz I haven't closed shorts yet, but I think the current rise from 215s is a abc correction, as impulsive as it may look: see wave b retraced more of wave a than a 2/5 would have. Anyway, expecting this 228 hit to be the top for now and not part of a 5-wave rise: worst case(5 wave rise) we have one wave to go before doom imho.
kumarz
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duh epic fail! ... will start closing weekly(but not qtrly) shorts if we cruise through 230s
kumarz
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hmm, so we never ended up bottoming out yet, 210 still to be hit methinks ... I am now aiming to close shorts slightly below 210s, then probly sit out the final descent(to the abyss?) coz I've made a killing on this short, got to step out of the zone for a few days(or shall we?)