Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
.... am I the only one whose mind is boggled by their ability to ignore what they said two days ago and still claim that what they are doing makes sense? It's like a populist party. Of course they were right all along. They have called every possible movement there is.
Waves on a chart tend to play themselves out in patterns (impulse, corrective) and adhere to fibonacci levels as EW dictates, but they are driven more by volume, trader psychology and supply/demand than by a predetermined set of rules. EW tries to quantify this behavior but I find it best to keep an eye on their possibilities while analyzing volume and trends and where they're likely to begin and end.
It's just one of many tools to use. Plenty of methods will help reduce risk and point one in a direction of high probability trades. At the end of the day though, good trading comes down to money management than anything else.
But yeah, on a basic level it's mind-boggling to sift through the plethora of EW charts. One of them has to be close, therefore EW works. This reasoning can suck in newbs IMO and give them a false sense of security.
Our pro-trader,basscleff. Mumbles about trading all days, and is nearly always wrong. Why don't you join the Trading game, where you can show your godlike skills to all the EW-noobs!?
He contributes. Imagine if you could use that massive brain of yours to do the same.
By contributing you mean that he toots his own horn 15 times day. As a troll it's no problem to contribute in the same manner, often I do - even in a so exaggerated way that people (with an iq above 50) can recognize some irony.
Did I say, as a troll? Is Basscleff a troll? Maybe...
We should ask Hooorhhhee - since he has the analytic view (kinda sixt sense)