฿ Bitcoin BTC/USD Daily Video, November 13, 2019

ED SCHAFFER

Corporal
Messages
70
Good morning,

BTC shows bearish dynamic pressure on 4H chart, which means that major OP at 8.3K has good chances to be completed soon:

Hi Sive > You claim that short term price spikes like on BTC above will invalidate your Butterfly formation. I previously referred on a earlier post to you to the existence of a diamond formation which you also claimed was invalidated by another short term PRICE SPIKE. It is my contention that all such price spikes are manifestations of BIG MONEY or WHALE PRICE MANIPULATION such as STOP HUNTING ETC & hence those charts patterns that you claim have been invalidated are actually still VALID in my experience. Take a good look at your old charts to see if subsequent price action does not indeed validate your original price projection based on those price formations. This is my tip to you kind Sive! Have a good trading day & Cheerio.
 

Sive Morten

Special Consultant to the FPA
Messages
12,729
Hi Sive > You claim that short term price spikes like on BTC above will invalidate your Butterfly formation. I previously referred on a earlier post to you to the existence of a diamond formation which you also claimed was invalidated by another short term PRICE SPIKE. It is my contention that all such price spikes are manifestations of BIG MONEY or WHALE PRICE MANIPULATION such as STOP HUNTING ETC & hence those charts patterns that you claim have been invalidated are actually still VALID in my experience. Take a good look at your old charts to see if subsequent price action does not indeed validate your original price projection based on those price formations. This is my tip to you kind Sive! Have a good trading day & Cheerio.
Yes, Ed, indeed. Very often patterns hit predefined targets despite its "theoretical" failure by some flaw. Hopefully here, on BTC, we have major AB-CD additionally to butterfly, so they point on the same destination point, a kind of insurance ;)
 

sveckar22

Private, 1st Class
Messages
45
Hi Sive > You claim that short term price spikes like on BTC above will invalidate your Butterfly formation. I previously referred on a earlier post to you to the existence of a diamond formation which you also claimed was invalidated by another short term PRICE SPIKE. It is my contention that all such price spikes are manifestations of BIG MONEY or WHALE PRICE MANIPULATION such as STOP HUNTING ETC & hence those charts patterns that you claim have been invalidated are actually still VALID in my experience. Take a good look at your old charts to see if subsequent price action does not indeed validate your original price projection based on those price formations. This is my tip to you kind Sive! Have a good trading day & Cheerio.

Hi Mr. ED do you have criteria when deciding whether the pattern is invalidated or still valid in cases of such events like you have mentioned, do you just look at the patterns in retrospect to see if they were valid pr do you just consider them being valid? As I understand your criteria is short term price action (spikes)? I hope my question is clear.
 

ED SCHAFFER

Corporal
Messages
70
Hi Sveckar > Your question is indeed clear enough for me to understand the point you are making.
My answer to your question is that it really depends upon the number of price spikes that are affecting a particular price pattern or formation. For example, a price spike of just one or two bars which penetrate a given support or resistance area at the edge of a formation & then quickly returns back within the original formation particularly at precise high or low points in that given formation, is most often a BIG MONEY or WHALE price manipulation designed to catch the stop losses of unaware "sucker" or small retail level traders or else it is a TRICK FAKEOUT BREAKOUT TRADE designed to trap "suckers" into making "wrong way" trades. The BIG MONEY WHALES are well financed proprietary traders who usually work for very large financial institutions. They are so well financed that they can control the markets on a short term basis. When the number of price spikes greatly exceeds just one or two bars, then indeed the validity of the entire pattern or formation is called into question.

I recommend keeping a file folder on your computer to store screenshots of these type of occurrences when you do come across them so you can refer back to them periodically for guidance when needed. Then as your historical record & experience level builds, you will be able to quickly tell which are most likely just manipulation & which are just the result of a directionless & aimless market. If the formation is indeed "sloppy" & directionless, then most likely it is not manipulation. Hope this helps to clear up this matter for you. Cheerio.
 

sveckar22

Private, 1st Class
Messages
45
Hi Sveckar > Your question is indeed clear enough for me to understand the point you are making.
My answer to your question is that it really depends upon the number of price spikes that are affecting a particular price pattern or formation. For example, a price spike of just one or two bars which penetrate a given support or resistance area at the edge of a formation & then quickly returns back within the original formation particularly at precise high or low points in that given formation, is most often a BIG MONEY or WHALE price manipulation designed to catch the stop losses of unaware "sucker" or small retail level traders or else it is a TRICK FAKEOUT BREAKOUT TRADE designed to trap "suckers" into making "wrong way" trades. The BIG MONEY WHALES are well financed proprietary traders who usually work for very large financial institutions. They are so well financed that they can control the markets on a short term basis. When the number of price spikes greatly exceeds just one or two bars, then indeed the validity of the entire pattern or formation is called into question.

I recommend keeping a file folder on your computer to store screenshots of these type of occurrences when you do come across them so you can refer back to them periodically for guidance when needed. Then as your historical record & experience level builds, you will be able to quickly tell which are most likely just manipulation & which are just the result of a directionless & aimless market. If the formation is indeed "sloppy" & directionless, then most likely it is not manipulation. Hope this helps to clear up this matter for you. Cheerio.

Thank you.
 
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