After our successful long from ~ 1630 to ~ 1730, we are now more comfortable in declaring the current situation as a Triangular formation.
See all explanation in chart :-)
Do not go all in, I don't have exact targets nor stop-loss for this trade yet. It is possible it could fake out to the top due to thin order books. So, stay relaxed...
Keep in mind, we are also in long-term downtrend, as per Behemoth analysis.
Happy trading! :)
P.S. If you wanna invite me for a coffee over the internetz, https://blockchain.info/address/126ogpgpaGVdgbE1BfLkBLLAwg46qTKTVH
This is the fake out we have awaited. Now is the time to add the rest to your short positions.
I am adding to shorts here at 1800 - 1830. I hope everyone listened to advice, stayed relaxed and is now adding to their positions! We are ahead of a wonderfuuuuul trade :)
Happy trading! :)
Here is a quick update on what happened:
Slock.it used a cheap-shot at us. They just opened the funding on Saturday when I was away. Well... yeah. Arrogant guy Stephan Tual: "guess what, The DAO will launch when it pleases. Welcome to true decentralization, middlemen not welcome" + not posting any tweets about the release. I have my opinion on this (people wouldn't buy as much of it if they had time to research).
Current TA wears these keywords: NYTimes article, inflection point, search for big buyers, shorts accumulation.
We had a prediction for this possible move:
And we accounted for that possibility by not going all in, but... adding at 1800-1830 wasn't a lucky move. Unfortunately I wasn't aware of the Dao news at the time of making that decision and writing the commentary, as I was quite busy.
See you tomorrow ;-)
P.S. I keep some shorts, closed a portion after trendline 1900 was broken and reopened at 2050, but it's on my own risk.I will not be able to provide updates today and tomorrow.