SEAN_VENGAN
Short

BITCOIN SHORT (BTCUSD) current 5715 28Oct17

BITSTAMP:BTCUSD   Bitcoin / U.S. Dollar
Bitcoin is struggling to hit above $6,000 and we have a Sell signal, which is what I have been waiting for a Correction.

So this Short trade has a R:R 2.5:1

Note I never predict timing on this Forum (so don't ask me when), I am positioning myself for a move with pre-defined risk which I fully accept.

Sean Vengan
10+ Years Professional Trader and Trading Educator

REALITIES IN TRADING:
In trading, there are Winners and Losers. Accept it. If you can't you shouldn't be trading.
We protect our capital with stop losses. Our winning trades eat up our losing trades, with the goal, over a series of trades, to be NET POSITIVE.
Ignore newbies who are uneducated in trading & investing and say "You were so wrong" (we as traders know, a loss is insignificant over a number of trades).
Each trade posted is YOUR FREE CHOICE, YOUR RISK MANAGEMENT and YOUR RESPONSIBILITY.
Always factor in "WHAT IF I LOSE MONEY ????"

DISCLAIMERS TO VIEWERS OF MY POSTS - PLEASE READ CAREFULLY
1. If you don't agree with my views or analysis and looking to just be mischievous, it's very simple, FOLLOW SOMEONE ELSE
2. I am not here to give you financial advice and if you take a trade it is YOUR FULL RESPONSIBILITY, not mine.
3. I am not your Professional Trading Mentor or here to provide you with a Free Professional Trading Advisory Service.
4. I am not obliged to provide analysis, commentary or answer any of your questions. I am here to trade for my sole benefit, not for your benefit.
5. I am a paid member, not a free member, so I am on Trading Views to use their paid services. My presence on TV is not to provide you with analysis.
6. I am happy to help you in your trading if I choose to and I feel you are being courtesy. It is my free choice to answer you, I am not obliged to.
7. If I provide and give up MY VALUABLE TIME providing analysis to you please respect that I am providing it FREE of charge. Appreciate it and don't take it for granted.
8. If you comment to me, simply be courteous and we can show each other mutual respect. If you are rude or disrespectful I will ignore you or send you a curt reply.
9. If you are abusive I will report you and will leave it to the moderators to decide if you should be banned.
10. If you don't like my views eg If I think Bitcoin is going up and you think it is going down, then please do not abuse me just for having opposing view to you. Show us all your analysis, don't hide behind rude comments and alias name. Lack of analysis shows lack of knowledge and experience.
11. I have no issue with you expressing your opinion or disagreeing with my views but please DON'T DISRESPECT me or other traders or write personal comments, this is offensive.
12. I have over 10years+ solid Trading Experience. I do not need to justify myself to you my knowledge and experience, my analysis and commentary demonstrate my skills and expertise.
Comment: PROFESSIONAL ADVICE: NEVER FORGET THE BIGGER PICTURE WHEN TRADING!
Just a reminder of my forecast over 1 month ago which I publicly posted.

On the Daily, we are in Wave 5 and waiting and it is unconfirmed it has ended, That's what we are currently testing.

On Weekly, we are just starting out Wave 3 so Medium Term / Long Term I am still a Bitcoin Bull.

Remember when you trade you MUST KNOW WHAT TIMEFRAME you are trading in order to be LEVEL-HEADED and OBJECTIVE and not get bogged down with lower timeframe charts like 15min, 3min charts etc...

Heres my post of 25th September 2017 as a reminder of the BIGGER PICTURE :

I hope that helps give you a FULL PERSPECTIVE of my views.

Comments

Once daily wave 5 is confirmed, would that mean we could very well expect to see a large ABC correction down? I'm looking out for that movement before adding more to my long position. However, I'm somewhat unclear about your weekly count and saying that we are in wave 3, since if that count were true it would be much higher until we would see a significant correction no? Would love some clarification on this point, thanks!
+5 Reply
SEAN_VENGAN pnspeculator
@pnspeculator, Can you explain?
Reply
pnspeculator SEAN_VENGAN
@SEAN_VENGAN, It seems like you are watching for two EW counts: the daily count, which is currently in wave 5, and the weekly count, which is currently in wave 3. I understand that once the completion of wave 5 is confirmed, we should be heading for a large ABC correction downwards. However, this scenario would seem inconsistent with your weekly count (wave 3) that suggests we are still heading up some more. In other words, if wave 5 is completed and an ABC correction occurs, wouldn't that ABC correction be considered wave 4 for the weekly count?

I'm somewhat new to trading and Elliot Waves as a whole, so this might be a pretty clear point that's simply gone over my head. Thanks in advance.
Reply
@SEAN_VENGAN , in a past post you had a line marked at around November 7th for a turning point (either up or down). Is that still in play?
+3 Reply
@janor123, on November 7 Bitfinex will be closing in the U.S. I'm expecting to see some serious selling.
Reply
janor123 MichelGarcia
@MichelGarcia thanks but I wasn't referring to fundamentals...was referring to a previous chart which Sean had posted.
Reply
I don't agree with you Sean... Tom Demark count gave a clean green 2. This means we will have 7 more days of uptrend. Which will probably bring us to a new ATH.
Here is my analysis:

+1 Reply
Well pictured Sean! ...Simple & Clear with a very Proactive Professional approach.
Thank you for taking the time!
+1 Reply
@EdFib3, Thank you Ed, for your appreciation and thoughtful words.
Reply
Great TA Sean, i agree still bullish long term
+1 Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out