We COULD go down more according to the 90m, 180m and 360m
The 120m gray ghost line is well below 20% and trying to round off and move upward; which would indicate downward pressure is "approaching" exhaustion but the blue LSMA as high as it is makes me believe we still have a while yet before the downward pressure is completed. Reminder, just because we have downward pressure does not necessarily mean the local low price point will go even lower.
Keep in mind, I went to "Format" and changed the "Inputs" for Godmode to 9, 6 and 3 and changed the boldness of each line to make them thicker in "Style." I also changed the color of the "Caution" dots from yellow to royal blue to make them stand out more on a white background.
I also clicked the plus (+) symbol and added LSMA (Liquid Square Moving Average); THEN went to it's "Format" and then "Inputs" and changed the "Input" to 32. I also changed it's color to royal blue and made the LSMA line THICKER.
Once I did this, you should see there is very little difference between it and my Phoenix 1.118 indicator.
I shared this with those interested in using Godmode Indicator. If you decide to add this indicator to your charts, you will begin to slowly grasp (understand) what I'm referring to when I mention different colored lines and their location within a percentage range. The "percent" value is located to the far right inside Godmode.
Here's a publication to teach one a BASIC understanding on HOW to use Godmode indicator WITH THE INPUTS I SELECTED; NOT THE DEFAULT INPUTS.
When we were in a BULL trend and having dips, there were several coins (pairs) that IF I waited until the Blue LSMA got to 20% or lower, I would end up missing entry because it would turn up before 20% WHEN USING THE 4h and 6h TF's.
Here is the 4h (240m) TF to provide as an example: NOTICE the blue circles I placed DURING A BULL TREND where the blue LSMA did NOT go all the way down to 20% or lower before turning back upside and one missed a re-entry at a low price if they were waiting for the blue LSMA to get to 20%. The RED CIRCLE shows where it did go down to 20% and lower BECAUSE WE ARE IN A TEMPORARY BEAR TREND.
I "assumed" we might continue the same and it not go down to 20% or lower before turning up. I was wrong. So, I WILL MAKE SURE to pay attention to this in the future in regards to THE TREND to have a BETTER IDEA as to whether we have found bottom yet on a pair before making re-entry.
I thought this was an important "find" for those using Godmode indicator with the inputs I suggested and with the added LSMA to Godmode and changing its inputs to what I recommended.
So, those of you who made entry around $2,600 and not $2,400 here on Poloniex; my apologies if you missed the lower entry at $2,400 based off my TA. I personally don't believe you have to be worried about it not coming back up because I believe it will.
Posting this for Godmode Users:
Check out this website and the copyright on the site is 2018: https://www.litepay.us
You will notice a dropdown tab to click for "card" and another for "Accept Litecoin."
I believe they're getting geared up to release some big news for 2018. You better get some Litecoin while it's still cheap. That's my opinion.
I'm NOT creating a new chart on this announcing LONG position on it yet. Only those who have actually subscribed to my channel and navigate here are getting wind of this information.
VERY IMPORTANT MESSAGE. PLEASE LISTEN WELL:
What the Dying Elderly told me:
It's simply to remind people what's important in life if and/or when they make their millions.
I'm about to head to parents house. This looks like bottom to me on Poloniex.
It certainly looks tied to Bitcoin. He keeps calling for Bitocoin to go down so I assume BCH is also going to go down with it in the short term. He also offloaded his BCH days ago. There were multiple opportunities to offload BCH and get into (Ripple or RaiBlocks), wish I would have taken one of those instead of watching this slow ride down. I assume we won't get anything good until the next pump.
Correct. Load up on some TRON (TRX), ADA, PPT, SALT... My opinion.... These are long term holds for me.
Correct... it will change. The lower TF's are used more for scalping when the volume is there to justify scalping . The lower TF's are also used for more precise entry and/or exit WHEN you see the blue LSMA in the higher TF's approaching 80% and higher OR 20% and lower.
The green line and ghost line are used in ANY TF to get an idea of when a particular move is approaching exhaustion and about to reverse. However, the lower TF's you go, it's likely at times to see the Blue LSMA hang out above the 80% mark for a while during a perma-bull move OR it can hang out at the 20% or lower during a perma-bear move. Especially, if you're looking at the 5m and lower TF's.
If you looked at a 240m TF you don't see very many waves as it moves up or down. You see smaller waves in smaller TF's. You might call those waves "Stair Stepping" . You can choose to trade those steps . However, you have to keep in mind which direction those stair steps are going. Are they going UP or DOWN. THAT"S WHEN it's a good idea to use the 240m and 360m to get a better idea of whether we have a bull trend or bear trend.
I just noticed something with Godmode when using the 4h and/or 6h TF's to know when we found bottom on a pair during a temporary bear trend. The update is above.
Yes sir, I believe "more than likely" we found bottom and we are now simply waiting for the downside pressure to subside and sentiment (demand) to increase to overcome supply again.