Topic: PnF TA - page 44. (Read 190664 times)

Speaking of PnF, any chance of an update Klee?    Still see 335-350?

Yes, that's what I think. I'm watching my own indicators and I can't say that I'm a TA expert (not even close) but I have observed that this is a common procedure. Look at the previous LTC pumps & dumps, then correlate with the respective BTC prices. They're (most of the times) connected. That's why I asked Klee to include an LTC price chart on PnF in the first place.

You expect a higher btc price because of the ltc move a few hours ago ?

FWIW: LTC is currently pumping; watch out for the next LTC dump -> BTC pump... IMHO, the higher LTC goes the bigger the leg up for BTC. This has happened so many times in the past that it's really getting boring. I really hoped for another vehicle other than LTC (ie:ETH) but didn't happen. Oh well...

Sold my position, feels bubbely. Will reenter either at 270 or 420.

Have never looked at PPC, I will check it though later!

ETH, BTS, NXT, STR almost all cashed hard.

I am hoping XMR will make another leg down but chances are 150K will hold (unless BTC goes nuts from here which I doubt - probably we will have a pullback here or at 260-262).

hehe,

also, how about ppc? seems quite resilient despite a total lack of interest.

any chance of a mechanical pump resulting from some btc rise somehow? is the bottom in?


btw eth is crashing to oblivion

This is the spirit!

With cryptos only insane trades make sense...

i've opened some longs on ltc nao.

let the dice rolls! ^^

Probably we will test 275-280. If we go 285+ I see 335-350$.

Klee, how are you my friend ?

What is your speculation regarding BTC now ? And what is your sentiment now ?

Finally, the 4h RSI was in bear divergence in ALL LTC exchanges, while BTC only in Bitstamp (Chinese were ok).

So this is another bad clue for LTC.

IMHO if BTC breaks 285 on volume probably LTC will collapse (and almost all alts).

The LTCUSD is an ascending triangle so normally you would expect a breakout upwards.
But if you check LTC & BTC history you will see they often fail downwards (and the opposite).

Can you trade this? Of course, with tight stoplosses and/or two opposite positions (one short, one long). Though in the 2nd case, the fees are an issue (if it delays to break).

Yes, it was the first P&F book I bought!

His company was bought from NASDAQ this year (but of course P&F is useless for Bitcoin).



Regarding BTCLTC, better be on BTC but still has support (up to 1/84):





Regarding USD, we have a triangle:



3.15+ moon, 3.05- doom

what does the TnA says about ltc right now?

Dorsey wrote a book about P&F charts too. Great read if you haven't already

Cohen and Dorsey actually made a fortune trading commodities with P&F, get your facts straight man!

https://play.google.com/store/books/details?id=mWMIEPQNEuEC&rdid=book-mWMIEPQNEuEC&rdot=1&source=gbs_vpt_read&pcampaignid=books_booksearch_viewport

Just don't confuse my speculation with what P&F say (it did not tell you to sell back then and it did tell you to go long safely at 240).
I just had to warn people because the chart was saying something - it could have gone really bearish (weren't for Gemini hype) and you know it.

We present all the data and it is up to everyone to interpret them - it is very difficult to be emotionless all the time.

P&F is very powerful at everything except catching the knife and selling the top (basically it has a very good indicator based solely on P&F - trendline oscillator- but is it very difficult to implement, something like the RSI).*

I believe though that with the RSI analysis plus other classical indicators, it is possible to use it with almost 100% success.

I am building tools that people have to pay A LOT in order to use (see dorsey wright, updata, stockcharts, bull's eye broker, etc).

There are very big & serious Hedge Funds who make a fortune with algorithmic trading I can assure you!

Market analytics is very powerful tool whether people like it or not and they work in low volume markets like BTC too.

It is much more difficult to do so but possible.

Cheers.

*EDIT: I forgot Price Objectives - very powerful tool too, even if the price does not meet the target, this fact gives you another indication of momentum (it is bearish not to meet a bullish PO etc.)