We don't talk too much about BTC here as it's very lite, thin, barely legal instrument that in these board usually attract only marketers pushing dreams to their borkers but slowly is taking a more serious note especially from countries like China and to lesser extend Russia that need to clear legal and not so legal money to global markets.
Insane moves in BTC that are pointing out to the mother of all rebalancing happening under the table. China downgrade sending shockwaves under the table across Asia and global markets. Anybody want's to guess what would happen when all those cash flows running to BTC from China are cash in into proper currencies? ....and which currencies will be laundry into the global system?
...there is a nuclear combination of currency flows there, enough to trigger more, a lot more, than a WTF moment across the FX board....
sisse
My 2 cents. You should stop looking at bears and instead focus on bulls....
In simple words, is not when they will 'take' control (why should they without a reason) but when will longs start clearing all. Like for almost any trade you got 3 options:
Insane moves in BTC that are pointing out to the mother of all rebalancing happening under the table. China downgrade sending shockwaves under the table across Asia and global markets. Anybody want's to guess what would happen when all those cash flows running to BTC from China are cash in into proper currencies? ....and which currencies will be laundry into the global system?
...there is a nuclear combination of currency flows there, enough to trigger more, a lot more, than a WTF moment across the FX board....
sisse
Disliked{quote} not so sure about this. in the past 3 weeks almost everyday I thought the same and it keeps on rallying. falls are shallow and spikes are big.Ignored
In simple words, is not when they will 'take' control (why should they without a reason) but when will longs start clearing all. Like for almost any trade you got 3 options:
- One is play hero and call blindly a top/bottom against the flow (don't understand why anybody would do that in a exhaustion leg)
- Two, have a flawless control of the movers and shakers and very sharp technical skills (but useless to do it intraday when the area in play is MT/ST) and learn how to fade a move.
- Three, and the one I would recommend you to master before anything else (you could just trade this alone without anything else and be miles ahead of the average trader here) is learn how to take the slow entry with a simple price based entry. Sure you may have more drawdown sometimes especially when it happens before an actual report/news but you W % will go through the roof in positive distribution.
If you are 3 weeks shorting and failing, you should put a stop and take a step back as you are doing something really wrong. Nothing to be ashamed to be in the wrong side, its part of doing business, but consistently trying and falling to catch a top or bottom based on ???? is a symptom of deeper problems in your trading approach...
sisse
Pending conversations? PM for a chat...I am mainly in OTM now
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