Just a thought...
It was once said by the great W.D.Gann that when rich men advertise they have goods to sell. Mr.Gann also managed to amass one of wall streets greatest fortunes with nothing more than hand drawn calculators, hand drawn charts, and his king james bible.... Likely one of the greatest "traders" to ever live with a documented win rate of over 90%.
Many belive that Mr Gann used crazy things like the stars and planets to time his trades and this is a theory I tend to disagree with. Rather Mr Gann likely discovered that there is a natual law "as he repeatedly stated" that governs motion and as such a mathematical relationship between input and output. A natural process of balancing if you will. An on going exansion and contraction of what ever energy it has available to it. As the pendelum swings.... The use of planets is simply to prove it is a relation ship that exisits in all things and is there for calculatable with in a certain amount of reason. This is the same process that produces perfect order in all chaotic systems. A repeating exansion and contraction of ratios of itself and as such mildly predictable.
Another famous quote and trading priciple of WD Gann was that when time and price are "square" the trend will change. While an extremely simple concept it is still hard to grasp in light libraries of exchange created trading strategies and indicators. The curvature of an exausted trend is created by this mathematical relationship of expansion and contraction. It is the rate of decay in momentum at the extremes of peaks and troughs in the trend.
Unlike in Gann's day we have the extreme luxuary of instant charts and a thing called zoom.... By simply adjusting the aspect ratio of a chart the consistency in decay of a trend can often be seen visually. When the trend is flat buyers have deployed their capital and with out a new catalyst to compell new captial all that is left is sellers to push the price down.
The btc chart posted speaks for its self. Personaly I would like to see one more run to 125k and maybe to the moon. At the same time trading requires intellectual honesty. Yes 49k could be a lower high after a double top when time and price are square. BTC may have a long life with much higher prices but it has also been said that when the shoe shine can predict the next bull run the decline has already begun....
As a holder of BTC im currently neutral. This is simply food for thought for now to help thin out the massive amount of media dope that compells us to buy in a way that we maybe shouldn't and often in times we wish we had sold.
Trade Well....
Your Friend,
Degen
It was once said by the great W.D.Gann that when rich men advertise they have goods to sell. Mr.Gann also managed to amass one of wall streets greatest fortunes with nothing more than hand drawn calculators, hand drawn charts, and his king james bible.... Likely one of the greatest "traders" to ever live with a documented win rate of over 90%.
Many belive that Mr Gann used crazy things like the stars and planets to time his trades and this is a theory I tend to disagree with. Rather Mr Gann likely discovered that there is a natual law "as he repeatedly stated" that governs motion and as such a mathematical relationship between input and output. A natural process of balancing if you will. An on going exansion and contraction of what ever energy it has available to it. As the pendelum swings.... The use of planets is simply to prove it is a relation ship that exisits in all things and is there for calculatable with in a certain amount of reason. This is the same process that produces perfect order in all chaotic systems. A repeating exansion and contraction of ratios of itself and as such mildly predictable.
Another famous quote and trading priciple of WD Gann was that when time and price are "square" the trend will change. While an extremely simple concept it is still hard to grasp in light libraries of exchange created trading strategies and indicators. The curvature of an exausted trend is created by this mathematical relationship of expansion and contraction. It is the rate of decay in momentum at the extremes of peaks and troughs in the trend.
Unlike in Gann's day we have the extreme luxuary of instant charts and a thing called zoom.... By simply adjusting the aspect ratio of a chart the consistency in decay of a trend can often be seen visually. When the trend is flat buyers have deployed their capital and with out a new catalyst to compell new captial all that is left is sellers to push the price down.
The btc chart posted speaks for its self. Personaly I would like to see one more run to 125k and maybe to the moon. At the same time trading requires intellectual honesty. Yes 49k could be a lower high after a double top when time and price are square. BTC may have a long life with much higher prices but it has also been said that when the shoe shine can predict the next bull run the decline has already begun....
As a holder of BTC im currently neutral. This is simply food for thought for now to help thin out the massive amount of media dope that compells us to buy in a way that we maybe shouldn't and often in times we wish we had sold.
Trade Well....
Your Friend,
Degen
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.