Post
Topic
Board Speculation
Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
by
billyjoeallen
on 18/04/2014, 11:13:16 UTC

Here was my 425 long entry. It did not coincide with any particular MACD cross at that exact time - I cannot always rely on MACD all the time. sometimes I have to react to sudden unsual breakouts by entering on their retracements. In this case, the 1 hour MACD had gone up at $415 about 6 hours ago, but I did not want to enter then because it looked like 4 hour MACD was going down. I think the candle was even just barely red right before this breakout. Then suddenly there is a huge break upwards on high volume. So I look look for the first retracement to enter on, which was at $425.

So how did you know not to react to the unusual move DOWN that immediately preceded it?  That evaporation of bid side orders followed by dumping was just as unexpected, wasn't it?