Goody4cXBT

Mechanical Engineer/ Contrarian trader & lover of Crypto/Jazz Musician.
My tweets are my Journals not Financial Advice!

[Goody4cXBT @Goody4cXBT]

@ExitLiqCapital Sure

[Goody4cXBT @Goody4cXBT]

Going as planned

[Goody4cXBT @Goody4cXBT]

For $BTC
I think we see a scenario like this in coming days.

[Goody4cXBT @Goody4cXBT]

@Timeless_Crypto Legend 🫡

[Goody4cXBT @Goody4cXBT]

@ExitLiqCapital Legend 🫡

[Rod @Crypto_R0D]

Yesterday everyone was bullish
Today everyone caught the perfect short

Crypto Twitter never changes
Just follow the chart, not the crowd.

[BBC Breaking News @BBCBreaking]

"New leader will be in place before Parliament returns in September, I will remain in post until the contest is complete"

Keir Starmer announces he will resign as UK prime minister and leader of the Labour Party

Follow live updates and reaction: https://t.co/8HkQf7O9cD

[Cred @CryptoCred]

As someone who loves trading technicals

I think learning about markets via technicals (like I did) is one of the worst ways to start

It’s a rigid framework where grown men argue with each other about the exact Japanese name for a specific candlestick or a box they’ve drawn on an arbitrary time frame

It doesn’t teach you the foundations - why markets move, different types of participants, microstructure, order types and their impact, perps vs spot, and all that stuff - market ‘plumbing’ as a category

One of the biggest issues with being hyperfocused on technicals is that they don’t teach you principles and market effects

Most technical setups can be decomposed into broad buckets which are well-established (trend, mean reversion, momentum, order flow / price impact, vol clustering etc.)

A lot of technical analysis is an often unknowing attempt to map those broad market effects into a recognisable pattern

But even a technical-first view is better served by understanding the underlying market effect first and then decomposing it, as opposed to focusing on the specific pattern without ever looking at what’s happening under the hood

“This type of triangle tends to go up” is a lot less useful than “this type of flow tends to resolve higher over N time frame”, even if you use the same triangle to identify it

Another example: if you’re drawing a support level and buying it, you’re assuming some version of buyers being more aggressive than sellers in that area over a given time frame and predicting a higher price as a result - but what does that mean?

Shorts closing / taking profit, allowing for mean reversion? Aggressive sellers being absorbed by passive buyers? Some price insensitive buyer predictably stepping in at a value area? Sellers getting margin called and forcibly trading at bad prices/causing a dislocation? Clustering of orders creating some sort of imbalance? And so on.

There’s definitely a risk of overthinking this stuff, and you can make money from charts alone

But if you haven’t thought about the underlying market effects and ‘plumbing’ for your setups you’ll likely be stuck in rigid pattern matching that doesn’t generalise and isn’t subject to deeper investigation and more nuanced application

Even if your main lens remains TA-focused, there is no harm in understanding the stuff you’re trading on a product level (eg perp contract specs, OI, funding, mark/last/index etc) and on a foundational level (why and how markets move)

Especially now that you can jam this stuff into an LLM and keep saying “dumb it down” until you get it, no excuse not to do your homework

This is something I really wish I did much earlier in my trading life, so hopefully it resonates with a fellow trader stuck in TA psychosis spending his mum’s credit card on a fourth Udemy candlestick course

Anyway GM

[Breakout @breakoutprop]

If you can't count your prop firm's rules on one hand, you're gonna have a bad time.

Ours take two fingers. ✌️

[Goody4cXBT @Goody4cXBT]

For $BTC
I think we see a scenario like this in coming days.

[zerohedge @zerohedge]

*ISRAEL SAYS IDENTIFIED INCOMING MISSILES LAUNCHED FROM IRAN

[Goody4cXBT @Goody4cXBT]

Nice question

[Darky @Darky1k]

Stocks are dumping.
Gold is dumping.
Silver is dumping.
Crypto is dumping.
Bonds are dumping.
Even Oil is dumping.

Where the fuck is the money going?

[Goody4cXBT @Goody4cXBT]

@Trader_XO Well played Sir 🫡

[Goody4cXBT @Goody4cXBT]

$BTC
Books on CB and Nance are thin enough that takers flow are efficiently tossing price between localized liquidity pockets.Base on sentiment and other macro factors,i think a scenario like this is possible if 75k level holds.

[Commentary Donald J. Trump Truth Social Posts On X @TrumpTruthOnX]

THE STRAIT OF HORMUZ IS COMPLETELY OPEN AND READY FOR BUSINESS AND FULL PASSAGE, BUT THE NAVAL BLOCKADE WILL REMAIN IN FULL FORCE AND EFFECT AS IT PERTAINS TO IRAN, ONLY, UNTIL SUCH TIME AS OUR TRANSACTION WITH IRAN IS 100% COMPLETE. THIS PROCESS SHOULD GO VERY QUICKLY IN THAT MOST OF THE POINTS ARE ALREADY NEGOTIATED. THANK YOU FOR YOUR ATTENTION TO THIS MATTER! PRESIDENT DONALD J.TRUMP

(TS: 17 Apr 09:27 ET)​​​‍​​‌‍​​‌‍​​​​​​​‌‍​​​​​‌‍​​​‌‍​‌‍​​​‌‍​​​​​​​​‌‍​​​​​​‌‍​​​​​​‌‍​​​‌‍​​​​‌‍​​‌‍​​​​​​‌‍​​​​​​​​​‌‍​‌‍​​​​​​‌‍

[Rep. Riley M. Moore @RepRileyMoore]

On Palm Sunday, in two brazen attacks at least 53 Christians were murdered by Islamic radical terrorists in Nigeria.

President Trump has been very clear that if the Nigerian government will not address this genocide, we will address it for them.

The persecution and slaughter of our brothers and sisters in our Lord and Savior Jesus Christ must end NOW.

[Mario Nawfal @MarioNawfal]

🇳🇬 Over a dozen Christians were slaughtered on Palm Sunday in Jos, Nigeria.

Radical Muslims drove up, opened fire, then hacked them to death with machetes.

[Mazi Nathan @rukky_nate]

On the morning of May 29th, 2023:

• $1 = N460
• 1 liter of fuel = N197
• 1 kg of gas = N570
• 1 crate of eggs = N2,500
• 1 bag of pure water = N150

Tinubu 3 years in office:

• $1 = N1,400
• 1 liter of fuel = N890
• 1 kg of gas = N1,200
• 1 crate of eggs = N6,000
• 1 bag of pure water = N400

Relax Tinubu is working. Fvcking idi0ts.

[Goody4cXBT @Goody4cXBT]

@General_Somto This is heartbreaking 😭😭😭

[Dear Self. @Dearme2_]

So sad.