TA Post: Some of you guys are Alright... Don't go short.

[Anonymous No.10678935]

We have an inverted head and shoulders developing an the indicators have support driving them up. This is the wrong time to go short. If you are holding bags they will get lighter.

[Anonymous No.10678958]

>>10678935
are you retarded, this HS is invalid

[Anonymous No.10678979]

Invalid

[Anonymous No.10678999]

Repeat of 2014. Mooning wihin the next 2 weeks.

[Anonymous No.10679000]

>>10678958
1) How
2) We still have the RSI and MACD strengthening. Even if it is not a inverted head and shoulders I make money for the wrong reason.

Shorts are really high too. If we move sideways and the shorts climb then they get liquidated and I am right again.

[Anonymous No.10679004]

Good job proving that over-reliance on chart "patterns," which are entirely subjective (e.g. your "head and shoulders" looks like two support levels in my eyes), is a destructive feature of new speculators.

[Anonymous No.10679006]

It's over
It's never comming back
Move on

[Anonymous No.10679014]

>>10678935

big bundle of MAs at 6900, and i dont see it breaking. but agree not is a shit entry for a short or a long.

[Anonymous No.10679040]

>>10679006
should i unironically kill myself? honestly whats the point of working 30+ more years , too tired to do anything i enjoy even on the weekends. i actually think its over

[Anonymous No.10679084]

>>10679004
And what about the support lines on the RSI and the MACD? Those seem pretty solid. We tet the MACD to swing above zero and the RSI to get oversold and there is some green candles in the price action.
>>10679006
They said the same thing about American manufacturing but with the right person we can make Crypto great again.

[Anonymous No.10679104]

>>10678958


>>10678979
it's still in play op is just on wrong tf

[Anonymous No.10679118]

>>10679084
wtf american manufacturing actually is never coming back dumbass

[Anonymous No.10679151]

The H&S you refer to is DEAD ... NULL and VOID ... Kaput ... NO LONGER VALID ... NEGATED ... want me to keep going?

[Anonymous No.10679262]

>>10679151
But why? Chart it out legit. Sure the right side of the head is a bit ugly but the indicators look good. We also have a lot of hidden bullish divergence between this bottom and the last bottom so that suggest continuation to a equal or higher high.

[Anonymous No.10679265]

>>10679084
>support lines
...on an oscillator? The only time people MIGHT draw a line on the RSI is when highlighting potential trend reversals. Even then, that's a pretty unconventional use of the indicator.

>RSI to get oversold
"Oversold" according to who? There is a buyer for every seller. Do you even know the math behind RSI?

[Anonymous No.10679349]

>>10679265
Trends lines show trends anywhere.

[Anonymous No.10679469]

I'm convinced that most TA on here is larp. You can't actually be that shit, can you?

[Anonymous No.10679532]

>>10679469
TA is exclusive to support/resistance and divergences. Everything else is retarded.

[Anonymous No.10679535]

>>10679151

kek, bless you for making this into a pasta

[Anonymous No.10679565]

>>10679469
Whats wrong? Post your own TA please.

[Anonymous No.10679572]

>>10679006

[Anonymous No.10679638]

>>10679349
Well yours clearly failed to invalidate the null hypothesis. Try again.

[Anonymous No.10679746]

>>10679262
It's something Peter Brandt said I didn't even look at your chart. However, that neckline is very suspicious to me, the way I would draw it is a bit too inclined for me to trade it as a H&S. This is a bit the problem with backtesting patterns, you can call a H&S to whatever you like, you can call it the Carlitos pattern, as long as you're aware of the hitrate and what kind of movement to expect, at what price your idea would be wrong... whatever. Eventually all this shit won't work, so pick a drawdown level and when your account gets sheared a bit too much, recap about what's working and what isn't.

[Anonymous No.10679830]

>>10679565
your head and shoulders is not invalid but some people somehow claim it is. it might not be nice, but it could become valid if it confirms. without confirmation above the neckline it's of very limited use. keep an eye on it, but why post it here?
I don't understand why you would use macd? why don't you just use the important emas? gives you just the same information and additionally much more. you have some pretty strange indicators which seem a bit pointless to me. support lines on indicators? trend lines (not support and resistance) are useful to visualize divergence, but anything else doesn't make sense in my opinion. I view oversold in a bear market as a healthy sign for further lows (other way around for a bull market of course).
maybe I was a bit harsh in my first message.

[Anonymous No.10679909]

>>10678935
I'm expecting some shit like that

[Anonymous No.10679932]

>>10679746
head and shoulder pattern with a down sloping neckline perform a bit better according to http://thepatternsite.com/hsb.html . I haven't measured the percentages of the move, but it doesn't seem too bad to me. if you refer to the way the slope looks, then that doesn't really matter as you can change that by zooming.

[Anonymous No.10679968]

>>10678935
WHere do you guys get all these cool graphs?

[Anonymous No.10680236]

>>10679968
Tradingview. They limit the timeframes and indicators you can use for free but you can get a lot out of it

>>10679932
Well that nice because we are getting pretty close to the low of the left shoulder, which would negate this pattern in practice. Bulkowski says that the right shoulder can be below the left but I never see it that way. I get the best results when there is a weak right shoulder.

>>10679830
I use the MACD and RSI to look for divergence, but normal and hidden. We are at a support level and there is hidden bullish divergence up to the 12H chart. In general I see divergence first on the RSI but it is more powerful and predictive when you see it on the MACD. Right now the MACD and RSI are telling me we are going to set an equal or greater high than $8,500.

[Anonymous No.10680332]

>>10679909
Nice chart. Very impressive.

[Anonymous No.10680390]

>>10680236
regarding the head and shoulder pattern I completely agree. that's exactly what I've meant before. the patterns mean nothing without confirmation. if we go lower, then we never had a head and shoulder bottom to begin with. just one of the very many patterns that could have formed but never did.
regarding the macd it's not something that I do, but keep using it if it works for you.

[Anonymous No.10680407]

>>10679932
> if you refer to the way the slope looks, then that doesn't really matter as you can change that by zooming.
It does matter to me, when they're too inclined it doesn't work that nice for me as a measured move. If I change the zoom, where the wicks and the bodies are changes. It's possible I'm the one trading the Carlitos pattern, but if I don't see it clear on the fly I don't try to fit it.

[Anonymous No.10680519]

>>10679151
rare good post

[Anonymous No.10680557]

>>10680390
Patters are good about 85-90% of the time but sometimes they fail. Head and shoulders can fail as tops and the volume profile fits perfectly but for it just happens to be one of those outliers. Which is why when trading patterns you should set your stops accoringly.

And then patterns will trigger but you get a throwback. Nothing is 100% which goes back to your multiple confirmation point.

[Anonymous No.10680686]

>>10680407
you can do whatever you want, but I'm just saying that the looks don't matter as your zoom will dramatically change it. what matters in my opinion is the percentage difference between the touches of the neckline, for example.

>>10680557
you don't get my point. we never had a head and shoulder pattern here. we were never above the neckline. there was no trade to be made according to the pattern. we had a setup that could've lead to a head and shoulder pattern, but we never had the complete pattern. I'm giving you the benefit of the doubt here as I'm assuming that you don't mean the head and shoulder pattern that was already invalid at the time you posted the chart.