Portfolio Update

LONG TERM
FLAT
| waiting next trading signal

SHORT TERM
FLAT
| waiting next trading signal

The market rebounced nicely from where i sold my long term trade, i missed a nice short term trading opportunity with the 2 hour chart last saturday at 6$, with a sell signal to close the long position few hours ago at 7.  For who want to follow the trend, is it possible to buy on the break out of 7.50$, in any case i’ll wait an oversold condition for a quick short term trade and the reverse of the moving average on the daily chart for opening again a long term trade.

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9 thoughts on “Portfolio Update

  1. I sold mine at $6.69 and the annoying thing was I did have a sell order in at $6.90 but I canceled it. Of course if it were not for sell orders like ours that market wouldn’t have had any steps on the ladder to reach the higher price. e.g. not everyone can sell at the high.

      1. Just wake up, LOL 9.40! very nice acceleration, let’see if it will stay above 7.50.
        Brad i use the same nick here, on the bitcoin forum and on irc
        you can find me on #bitcoin-otc-eu , irc freenode.

  2. Russell

    Good morning, Enky. I know that you have stated when i met you on IRC that you are not a big fun of Elliott Wave, but also that you have studied it, do you think that this market is big enough to be forecasted with Elliott Wave Theory?

    1. In my view the best Elliott wave interpreter of the last 50 years was Charles Collins, now deceased. He shared one important attitude towards Elliott’s theory. He believed that one should not expect the small price movement to fit the theory perfectly. Instead he emphasized the importance of looking only at the big picture. I think it is easy to fit Elliott’s theory to one’s own market biases.
      It impossible to apply it to this market, you need to use at least a weekly chart and mtgox started only last august, there isnt too much historical weekly data for a proper analysis.

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