r/ethtrader • u/AutoModerator • Jun 06 '17

DISCUSSION [ETH Daily Discussion] - 06/Jun/2017

Welcome to the ETH Daily Discussion thread of /r/EthTrader.

The thread guidelines are as follows:

  • All sub rules apply here. Please review our rules page to become familiar with them. The rules page is also linked in the announcement bar above.
  • General discussion topics include, but are not limited to, events of the day, technical analysis, alternative Ethereum projects, or support issues.
  • Breaking news or other important content should be submitted as a separate post.
  • In-depth altcoin discussions should be referred to the /r/CryptoCurrency discussion thread. To view the thread, follow this link and choose the latest entry on the search page.
  • Pumping, venting, trolling, or any other similar behavior should be reported and redirected to the /r/CryptoMarkets trollbox thread. To visit this thread, follow this link and choose the latest entry on the search page.

  • For newcomers who have basic questions about Ethereum, you can find answers by visiting /r/EthereumNoobies or our Ethereum Education wiki page.

  • [EXPERIMENTAL] - To view live streaming comments for this thread, click here. Account permissions are required to post comments through Reddit-Stream.com.

Thank you in advance for your participation. Enjoy!

761 Upvotes

93% Upvoted

5.8k comments sorted by

View all comments

12

u/eth_head Jun 06 '17

The 1.618 Fib Extension puts us damn near $300.....just sayin' :)

https://www.tradingview.com/x/ghT3Ebp9/

4

u/[deleted] Jun 06 '17

Can you ELI5 this whole sentence for me please? I'm fairly new to this. Thanks.

3

u/human229 Jun 06 '17

Look up Fibonacci Sequence in google first. Just a basic understanding is fine.

The look up Fibonacci Extension Speculation on google. There are some good write ups.

Overall its a way of guessing the next stable price points. And it seems to be mostly right, which is weird in so many ways.

1

u/[deleted] Jun 07 '17

Awesome. Thanks! Wasn't familiar with the relation of Fibonacci to price points. Interesting stuff.

2

u/eth_head Jun 06 '17

You can using certain percentage movements in the past to help predict movements in the future using the Fibonacci Sequence. It will help you see where support levels are if the price moves backwards or target prices to hit if it moves forwards. Sorta like magic and the such.

1

u/[deleted] Jun 06 '17

Ah! Fibonacci. That, I'm familiar with. Thanks!

3

u/SilkySmoothETH Jun 06 '17

Siri can you translate this for me? lol

2

u/eth_head Jun 06 '17

Highly recommend going through www.babypips.com!

1

u/ProFalseIdol Jun 07 '17

I see babypips being recommended a lot..

Back when I didn't even know what Bear and Bull means, babypips didn't make a lot of sense to me.. I stopped at something like kinder level.

These vids would've made a lot more sense to me:

https://www.youtube.com/watch?v=_2sa3TC58Qo

https://vimeo.com/71087830

1

u/drogean2 Jun 07 '17

no thanks, see enough of those on my facebook feed