LTC 4-Hr Education Analysis

I rarely use indicators i.e., Stochastics, RSI, and you can fill in the blanks. I am not a fan of the Elliot Wave for use with cryptos. I have found it to be useful on some stocks but for the most part, very few on TradingView (TV) have the requisite knowledge to use it effectively (IMHO). I have found a few that know what they're doing and I follow them. I use resistance and support lines as references. I put three trendlines on the left side of the chart to show what I am seeing and how I think. This is a game of geometric shapes, volume and time to make price-action. This chart is just to show how I consider my analysis and conclude my results. I have been EXTREMELY ACCURATE in many of my predictions (predicting is something I am soundly against), but will only go out on a limb when the conditions are right and the geometric shapes, time and volume will give the high probability of future price action.

The reason I point this out is at the root of algorithmic trading is TREND, TREND, and the TREND, along with volume, and time. These factors are Primary to any strategy that functions autonomously. I find that indicators are just references used to substantiate the TA -- but a good chartist will need very few if any indicators to develop a solid trading platform. As the algorithm becomes more sophisticated QUANT becomes the programmers best friend. Since I have spent many years programming, I merely use the simplest theories and charting techniques to advise on the probability of direction. Rarely do I stick my neck out and predict price, but have done so here on TV to demonstrate the power of this type of TA. So when you view my charts and see a lot of sticks you will understand that they are mere references: I am also considering Volume (V), Time (T), Candle size (Volatility), and Support and Resistance (S&R) to formulate a probability. I was taught to trade by a friend and mentor who passed away in 2001. He rarely used indicators other than Moving Averages and Trendlines, but he always used VOLUME PROFILING, or Market profiling (VP) -- depending on your nomenclature. This was not widely accepted at the time but became standard for charting futures. Little did I know I was well ahead of the curve! This is the MOST effective indicator for predicting price, direction and when used with Fib lines is really all one needs to know to be profitable at this game. I see some charts with VP, but most, including me, rarely refer to it. I don't use it because I got mad at TV and canceled my subscription, but I have all my charts in Excel where I do use VP and transfer the information to my TV charts for your pleasure and hopefully Profit.

Best,

Biff