Hourly Chart: Sold 1 unit at 6.21$

Stop loss triggered, -0.59 $ per unit, i get caught by a false signal. Short term portfolio now flat.

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2 thoughts on “Hourly Chart: Sold 1 unit at 6.21$

  1. Arthur

    I don’t know anything about standard tools, but I doubt they can apply.

    What we are seeing is the result of poor liquidity at mtgox. It is easy to transfer bitcoins into mtgox: 80 minute delay. It is difficult to transfer dollars into to mtgox: days into dwolla and no transfers completing on weekends.

    Some fool(s) decided to sell more than the cash reserve at mtgox could sustain and then to sell at a faster rate than the reserve could be replenished.

    As a result, trading has slowed and the price is likely to continue to go down till more cash is available on Monday.

  2. Unfortunately isnt possible to go short at mtgox, the sell signal at ~7.30$ of yesterday evening would have been a nice short opportunity. for now we can’t capitalize on market slides.
    I decided to use the 60 min chart because of scarce liquidity, this market it’s thin and shorter time frame are almost untradable, i’m not sure it will work daytrading operativity at mtgox but i give it a try.

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