RE: Cardano (ADA): Is it Liquidity Immature?
You are right with your statement to look at charts. I do so too. But in my opinion it's always a "gamble" afterwards if your choices were right. It does look you made the right choices so far. But see how you make a statement: "There may still be one more lower low......."
What gives you the signal it will be the final lower low? Time just have to tell you if your buy in at $ 7.540,-- was the right desision doesn't it?
I checked three wedges on @haejin charts and this is what I found:
30-1-2018 a wedge is shown that reached $ 7.748,--
7-1-2018 a wedge is shown that reached $ 5.500,--
13 hours ago a wedge is shown that reached $ 3.857,--
(talking BTC as you know)
Since a wedge is formed from signals out of december 2017..............how can it give us these 3 massive differences within only 7 days?
Then there still is this statement left that BTC has to go up after it reached it final step into the wedge. But.................we did see coins just drop down after they reached their final place into a wedge. Who says there isn't coming a massive drop after BTC has finaly reached the end of his wedge? (a wedge that doesn't really exist if you change figures within 7 days!)
As you do, I still believe in charts and I still believe in ladder in.............but a chart can never close the discusion if something is going up or down. Especially not when you relay your wedges time after time after time to make them fit.
In the same video where @haejin first identified this a,b,c,d,e correction he made it clear he thought $6,000 or lower was possible. At the time he didn't think it was very likely but he still advised that buy ladders in that zone were reasonable. I don't remember him making any hard calls about BTC prior to that during this correction.
He seems to redraw his patterns from scratch in many videos. And since TA is best when it's done with the most current information, resistance lines can move from day to day as a pattern expands slightly beyond its initial trajectory. As the currency moves closer toward the bottom in both price and time it becomes easier to pinpoint its destination. This is why TA changes from day to day. None of the changes you mentioned should have caused you to make any bad buys or sales, even if you were acting impulsively.
When a pattern like a triangle or even a wedge completes, there is no guarantee that a price will head in one direction or another. But identifying these patterns allows us to lean on an understanding of the propensity of price movement so that we are right more often than we are wrong. What more can you really ask for?