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RE: BTC – Elliott Wave, Price Targets, and Chart Patterns – PLUS: A "FRESH" Chart-Cast VIDEO overview!

in #bitcoin7 years ago

I hear you, man. Makes sense! Yes, the probability factor that @ew-and-patterns occasionally provides can be helpful for sure, however, I wonder how exactly he is calculating/quantifying such probabilities.

What I prefer to do instead, insofar as price targets are concerned, is to put a "failure price" in place that would cancel or negate such a target. That way, folks can calculate their downside risk vs. reward, and where perhaps to set their stop-loss orders. There is no guesswork involved with such an approach, just a bit of simple math is all.

Thanks for clarifying the balance of your thoughts!