LTC Sneaks Out of Descending Wedge Like a Teenager Out a Window
4 HR Log Chart
Pay no attention to little old LTC....Nothing to see here.
....it's just a little bullish.
EMAs and pink line are levels to watch for resistance above us in a bullish scenario.
Pink line is a potential IH&S neckline to watch although volume has been too sketchy for me to call that pattern with any confidence. It is a resistance level regardless. If we shoot through it, that's an obvious signal that bulls are in control.
Bearish scenario/further ranging with a close below 116.
In between 123 and 116 is kind of purgatory for now. Things are unclear, although I'm losing hope of getting any more LTC for $98, like I did back in December. That doesn't mean I'm saying throw your whole stack into the market right now. There may be some better, more comfortable deals incoming.
Measure twice, cut once.
May all of life's treasure's be yours.
Pay no attention to little old LTC....Nothing to see here.
....it's just a little bullish.
EMAs and pink line are levels to watch for resistance above us in a bullish scenario.
Pink line is a potential IH&S neckline to watch although volume has been too sketchy for me to call that pattern with any confidence. It is a resistance level regardless. If we shoot through it, that's an obvious signal that bulls are in control.
Bearish scenario/further ranging with a close below 116.
In between 123 and 116 is kind of purgatory for now. Things are unclear, although I'm losing hope of getting any more LTC for $98, like I did back in December. That doesn't mean I'm saying throw your whole stack into the market right now. There may be some better, more comfortable deals incoming.
Measure twice, cut once.
May all of life's treasure's be yours.
Comment:
So far showing a pretty strong rejection on the pierce back into the wedge, but we . The long lower wick looks bullish. This 4hr closes in 15 minutes. The next 4hr is sure to give us some more obvious clues. Locally, look for us to hold or lose the 50ema, and keep scanning for divergences on various time frames.
Comment:
Parenting and typing at the same time is apparently difficult for me, or I got too much sun at the pool today ;) ....I don't even know how I was planning on finishing that sentence. Happy trading!