RE: LiteCoin (LTC): Can You See the FOREST? Don't Lose Site of IT! LTC Forest Target $539!!
I posted this in response to another of Haejin's posts yesterday, but no response yet, and I would welcome anyone's feedback! I have been watching Whitecoin, and I can't shake the feeling that it is still headed up. My $ chart does not match with yours but it seems to me that price action after the recent high has formed a bull flag, as a wave 4, with wave 5 of (3) to follow:
I also think that this fits with the XWC/BTC chart. The only way I could make it work on the long term chart (daily), to prevent wave 4s from overlapping with 1s was to add lesser degree sub waves. The result is I think we are just starting wave (iii) of circled iii of 3, meaning we have a ways to go. It also looks like this could form a really large cup:
long term XWC/BTC
Finally, the 4H XWC/BTC chart:
4H XWC/BTC
Are these valid? Thanks! Made these yesterday, but they still look like they fit...
Way too do the work!
I've been thinking that it would be great to form some sort of trading group here with the people who are actively doing their own charting -vs- just relying on Haejin's posts. I believe that he is wanting to "teach a person to fish", not just give them fish. I'm not sure how it would work but if you're interested, let me know.
I was thinking the same thing! Not sure how it would work either and I find myself struggling to find time to post or even comment...Maybe something like a daily Haejin's followers' playground or something...
Time is a big factor for sure. Right now I'm working on creating an investment portfolio of HODL coins. For those, I'm not really worried about TA and charting because I plan to buy them and put them away for a few years. I've accepted the risk that they could go to zero.
I would also like to have a trading portfolio. To me, this is where TA is important and the focus would be on identifying good options, laddering in, and setting exit targets. Rinse and repeat. Fortunately, Haejin is already providing a great candidate list. I've just been too busy to act on many of those opportunities.
I'll have to think some more about how to share info. Creating a new blog post for each update makes sense for getting visibility and bringing awareness but it's not a great system for tracking progress of a coin through a series of updates over a period of time.