so basically I think the current dive will resume(where to? dunno) before a major uptrend. Currently looking to accumulate more shorts, which I'm keen to do while it is retracing(I think) from the dive to 367.
I've drawn a few fib retracements, one for the rise from 275(to look for support), I see major supports have been smashed, so this baby is going down for a bit I reckon.
Then a couple more to look for where the current retracement upwards will top out. It seems we'll top out below 380: but the dive today was quick, expecting to accumulate slooowly.
Comments
kumarz
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ok I'm seeling large sell orders going in and executing around 375-380 whch is all the confirmation I need for now(closed long around 375) to enter a few shorts: to add further as I become more sure(or close).
I think we've just topped before that promised last leg down to the 275 area.
kumarz
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just a bit worried though that last C-leg looked like a five wave move, which could be impulsive and carry on up: will see what happens.
kumarz
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shorts closed, this is probly going to go further up or even reverse straight to the uptrend! Currently correcting after a 390 hit methinks.
kumarz
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Still think that final "despair" leg before Muhn is upon us, taking us to probly around 275. Looking to enter more shorts to replenish today's okcoin expiries. Thinking the current formation could be a double top, or a triangle(that will break upwards): adding a few on the hope this is a short-term double top(per chart) but cautious about this triangle, which will give me a better shorting opportunity anyway :-)
kumarz
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broke up, so went long around 360: hoping to close out around 375 for that last leg down.
kumarz
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360 broken IMHO so waiting on a fall to 345 area at the moment.
kumarz
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though I think that will break too ... so accumulating more shorts around 360
kumarz
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accumulation done, picked up a bunch around 365-375 ... now we wait :-)
kumarz
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bleurgh, back up to the 380 zone and broken a trendline upwards: now to see if resistance around 385 holds: I think it will break(to fuck with us) and then head back down.
I think we've just topped before that promised last leg down to the 275 area.