One of my followers on Tradingview pointed out that there is an abundance of ideas about the TRIANGLE on Bitcoin. It's great the pass the time drawing pretty pictures but can traders actually make money from them?
Good! You speak english so clearly, not a native speaker I supose.
BelowZero
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EXCELLENT video.
There is an almost Freudian fixation on trading view when it comes to BTC and triangles...Nice to see a smart, unbiased and very informative look at the pattern.
I wonder if there is a smarter way of playing triangles now that we know everyone is looking at them, ie play the triangles counting on the consequences of all those failed trades (50%-50% winning chance).
Thanks a bunch.
norok
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@BelowZero, I hinted at what you are talking about... the stop runs when the triangles FAIL are trades!
BelowZero
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@norok, I saw that, and thanks for it: Extremely clever. Just not so sure how to fully take advantage of all those stops closing as we can never really be sure if the breakout will be to the upside or downside...
LightThroughput
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What about the direction leading up to a triangle? What about the shape angle of it? Rising pizza is more often bearish; falling pizza more often bullish. What about the direction before the pizza?
asakashsharma90
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kindly give these type of ideas on stocks,othewise your every idea is owesome.
Newbie2001
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Thanks for that video analysis. With your 5 examples you end up 3W-2L, 60% win rate at a RR 2:1. Definitely winning strategy if you can be strict to your rules and be patient.
Good stuff!
camaradadaluta
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Do you also agree with the statement: bitcoin is not in a bubble because you can buy it in fractions, while a stock (for example) you need to purchase the whole lot, so to speak (?)
Thanks
norok
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@camaradadaluta, Bitcoin is definitely in a bubble. The only question is... when will it end? No one knows.
camaradadaluta
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@norok, thanks for replying. Have a good day norok, stay safe!.. :)