Do you think conventional Elliot wave theory and Japanese Candle sticks can estimate or extrapolate the moves while trading crypto currencies???
Lets us Share our experience in trading cryptocurrencies such as XBT/USD, ETH/USD, XRP/USD !!
Do you mean the CFD's or the Blockchain ?
Do you mean the CFD's or the blockchain ?
No thats not correct.
Can you elaborate when you mean "that's not correct" ??
Coz there are brokers like AVA trade and XM providing such features to trade on MT5 platform !!
Coz there are brokers like AVA trade and XM providing such features to trade on MT5 platform !!.
Have you found any ? because i don't use it.
It does not take rocket science to see the light.
The first correction was from June 14 until July 16, so more or less one month.
The second correction was from Sept 2 to Sept 15, more or less two weeks.
The third correction was from Nov 8 to Nov 13, so only a week.
As you can see the corrections get narrower in time and more violent in price swing.
This is the pressure on the bubble.
We are currently in the/ at the peak of the 'Mania Phase' where the public get's involved (CFD's) and they become delusional...
So explain to me,
Why do you need Elliot wave theory or Japanese Candle sticks ?
And what do you think is going to happen next ?
Trading the coin will mean that your transaction will be registered or hashed into a block that is on the Blockchain.
Every transaction can be looked up and verified from the first block ever mined.
For CFD's or futures contracts, this is not so.
These are Contract's for Difference so you can speculate about the value of the coin on some future date.
This means that your transaction does not gets registered or hashed into the Blockchain.
As such most people who do not understand Blockchain technology and trade CFD's have the impression and say that they are 'trading Bitcoin'
But this is not the case.
They usually do not realize the difference between a transaction on the Blockchain, which is decentralized, and a position at a broker or exchange, which are centralized.
Since the power of Bitcoin and other altcoins is the decentralization, and it's Blockchain making it tamper proof you would have to ask yourself, what you are actually trading when using an exchange or broker.
But the same question can be asked for Bitcoin itself.... I guess the answer will be that you are trading trust.
Now the last Bitcoin fork (BTG) did not go as planned and there are various reports surfacing about Bitcoins being stolen, as well as brokers going bust because of the last correction while offering high leverages...you can do some research yourself about what is currently going on in the crypto currency areas.
And your point is ?? That There is no relevance of elliot wave theory or candles while trading CFD's on MT4/MT5 ... Is it ??
There are actually a lot of points in what i wrote there...
If you are unable to locate them just stick to Elliott and candles, and don't worry about it.