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Pascal

Is Pascalcoin About to Begin a Major Bull-Run? (Elliott Wave)Like and Follow for more Updates and Ideas It appears that PASCBTC is in a non-limiting triangle which could be coming to a completion now. It appears that this triangle is following the first zigzag as an x-wave. This means that we could get a larger corrective bull-run that is probably a wave-b. It could either be a double or a triple combination, but wave-b will probably eventually retrace about 60-80% before getting a much larger impulsive bull-run. Even if it does get a deep retracement this will still probably be one of the lowest prices we see for Pascalcoin. Fundamentally, Pascalcoin is the first coin to be built using the Pascal coding language. This opens the door to a huge amount of Pascal coders being able to code with an already existing cryptocurrency, because before now all cryptos have been written in C++ and so a Pascal coder would not be able to code software for any cryptocurrency until Pascalcoin was released. Also Pascalcoin uses "accounts" instead of addresses like bitcoin, and these accounts are generated through mining, and so they actually have value too and that creates an entirely new "account market" that does not exist on other cryptocurrencies. These accounts are also a lot easier to remember than a cryptographic Bitcoin address so it makes it a lot more similar to an actual bank account. Being that this is the first coin made in Pascal it should be interesting to see what Pascal coders come up with using this coin and other coins that have already been forked from Pascalcoin, such as Pascalcoin Lite.
PLong
by Intuit
7
PascalCoin / Bitcoin trade management 1Going to do two things at this point. The first is bring the stop up to the red line (0.00129). This is pretty tight but would get us out the trade with a 8:1 plus risk to reward. If we do break this point there's a good change the price will want to retrace to the larger trendline (as per the blue arrow) and I'll try and re-buy at this lower price (shown by the red circle). Basically at this point with 8:1 in the bank, if we do get stopped out i will re-buy at any point that the price begins to turn back up. In this way I protect my profit and make sure i remain in the trade, with the bonus of potentially buying lower on the way down. I prefer to keep a tight stop after a moving so far from the larger moving average as when the price comes down it often comes down fast. The second thing is to buy more at the break of the current forming range/triangle (the higher, righthand long position indicator), with an initial stop also at the red line. the only problem is that at some point I want to go to bed and won't be able to manage my stops. despite being in a good trend I don't want to sell or buy without the ability to reverse that, so if nothing has happened before i go to sleep I might cancel these orders and move the stop to somewhere reasonable on the higher timeframe. Sleeping sucks. Mark
PLong
by MarkLudgate
Pascal/Bitcoin - Increasing the reward potential. PASCBTCHi! At this point the price has broken above the larger triangle pattern - a bit early maybe - and we now have another smaller triangle forming. The technique i'd like to try here is adding to the trade with a smaller stop size (shown by the second long position indicatior and the blue arrows). What i'm going to do is, IF we break the small triangle higher, i will buy (have a buy stop in place) and move all stops to the new position indicated by the lower blue arrow. The amount i will buy will be the new amount (in btc) (based on my stop precentage) minus the old amount (in btc) (which was base on the old position stop). Essentially we are only buying the extra needed to risk the full amount we can base on the new stop. Another way of thinking of this would be that we will sell the old position and re-buy with the new stop percentage - but instead of selling we just minus the old amount of the new. The reason for this is just to get a tighter stop and therefore a better risk to reward. Doing this does give a higher probability of being stopped out, but the risk of this is low and worth it for the extra reward we will get. If you look at the risk to reward (shown by the 'long position indicators'), you can see that by the time we reach the green line the old risk to reward would be at 2:1, but the new risk to reward would be 3.84:1, despite actually buying at a higher price. Let's hope it works out! Mark
PLong
by MarkLudgate
2
Pascal/Bitcoin triangle breakout - PASC/BTCI'm going to prepare for a breakout of this triangle pattern if the price goes above the last high. Hopefully the price will consolidate more and we can cancel this trade and get one with a tighter stop and therefore a better risk to reward. EDIT: We just broke above as i was writing this, so we're in the trade now. Let's set the stoploss and see what happens What I'm looking for on this set up: - The overall trend is upwards and is moving between consistent higher lows and triangle patterns. for me this is the most easily predictable form of price movement and is why i like cryptos so much for trading. - The triangles are great as after this kind of consolidation the price will usually pop in the direction of the break and you can get a really goo risk to reward. If we get a similar move to the last triangle we could be looking at 10:1 risk/reward or more. - When these new coins get added to Poloniex there is often a hype about them creating massive volume and liquidity, as well as an overall buy panic. With this you get these really nice patterns and minimal erratic price movements. Pretty good because you can safely use a smaller stop (better R/R) without worrying that the price will suddenly drop and take out your stop. Gonna move up a stop up under the 30 min or 1 hour swing lows and if we get a sudden large move upwards, i'll probably break down to a lower timeframe and move a stop under the lows there instead. Hope this goes well for anyone involved...good luck! Mark
PLong
by MarkLudgate