LTC: Have we found a bottom? This EW count supports the case...
There are a few counts Im working with at the moment and this one has
LTCUSD
finishing the Y wave of a WXY correction, this doesnt mean we are going straight to all time highs but does support the idea we are moving higher. Waiting for the retracement of what looks like a leading diagonal going in at the moment. If this is a Wave 1 leading diag look for a three wave retrace Wave 2 to the $55-58 range where we will find support. If LTC is going to higher prices from there, that will be the trade we want to take, ride the Wave 3 up to the mid $80s. Looking for a $25-30 move IF this scenario plavs out. Happy Trading, know your entry, know your exit and follow your rules, we will rarely catch every top or bottom but there will always be a retrace.
LTCUSD
finishing the Y wave of a WXY correction, this doesnt mean we are going straight to all time highs but does support the idea we are moving higher. Waiting for the retracement of what looks like a leading diagonal going in at the moment. If this is a Wave 1 leading diag look for a three wave retrace Wave 2 to the $55-58 range where we will find support. If LTC is going to higher prices from there, that will be the trade we want to take, ride the Wave 3 up to the mid $80s. Looking for a $25-30 move IF this scenario plavs out. Happy Trading, know your entry, know your exit and follow your rules, we will rarely catch every top or bottom but there will always be a retrace.
Comment:
Y wave is a classic Zig Zag ABC 5-3-5 if its labeled correctly,the C wave should be roughly 100% the length of A Wave, its less than 5% off which could be another confirmation the C wave is complete, looking forward to seeing how she shakes out over the next week,
Comment:
A less probable count but still valid