Note: Both of these charts are linked, so the coordinates for the lines shown above are the same.
Note the difference between arithmetic scale (left) and log scale (right) in terms of trend line support (black & blue lines). LTC has been consolidating in a nice bullish flag for about a month and these trend lines could be valuable in determining if there is a continued move downward or if there will be a breakout. I believe the blue line provides much stronger trend support and LTC may retrace to it before a breakout. If the a breakout from the consolidation pattern we are in is confirmed via volume, it is possible that this line will provide future support for retracements.
Just a friendly reminder that while arithmetic is typically used when charting, logarithmic scales provide a great alternative method to charting, especially when a stock/currency/etc. has experienced a move greater than 20%.
Note the difference between arithmetic scale (left) and log scale (right) in terms of trend line support (black & blue lines). LTC has been consolidating in a nice bullish flag for about a month and these trend lines could be valuable in determining if there is a continued move downward or if there will be a breakout. I believe the blue line provides much stronger trend support and LTC may retrace to it before a breakout. If the a breakout from the consolidation pattern we are in is confirmed via volume, it is possible that this line will provide future support for retracements.
Just a friendly reminder that while arithmetic is typically used when charting, logarithmic scales provide a great alternative method to charting, especially when a stock/currency/etc. has experienced a move greater than 20%.
