History doesn't repeat, but it often rhymes. A very similar setup is shaping up as it relates to Gann lines.
*Lite coin has been trading at the bottom of it's USD log channel, but more importantly, it just broke through the 3/1 gann line and appears poised to hold the line on a retest. A run up to the 4/1 gann was seen in both June and early August before spiking to the next point (mid/top) in the log channel pitchfork.
Are we seeing this pattern play out yet again? Quite possible.
-Long LTC with adds at retrace gann levels.
-Channel lines (yellow/pink) represent profit taking targets.
I expect bullish fundamental developments over the coming months... Hodl that core position tight.
*Lite coin has been trading at the bottom of it's USD log channel, but more importantly, it just broke through the 3/1 gann line and appears poised to hold the line on a retest. A run up to the 4/1 gann was seen in both June and early August before spiking to the next point (mid/top) in the log channel pitchfork.
Are we seeing this pattern play out yet again? Quite possible.
-Long LTC with adds at retrace gann levels.
-Channel lines (yellow/pink) represent profit taking targets.
I expect bullish fundamental developments over the coming months... Hodl that core position tight.
Trade active:
Looks to be taking the lower of the two bull paths, but continues to respect gann resistance/support levels. Long, with potential adds at $55.55 level.
Comment:
$290 print on OKCoin may have been a bot fluke... or maybe just a hint at things to come . ; )
Trade active:
Nice move above the 8/1 gann line. I'm expecting a retest of this point around 80. Potentially a good place to reload ($75 if we're lucky)
Trade active:
So long as consolidation around/above 98 continues, we could see another leg up. Watch for btc weakness, as this ended LTC's September rally rather abruptly.
Trade active:
Bring out the Gann Cannon boys! That quick correction and recover was very bullish, especially when taking recent ltc/btc strength into consideration. If we break this 8/1 line on tcs/usd it's on to a bullish $130 target (assuming btc cooperates)
Trade closed: target reached:
Hitting targets right on the money. Taking off 2/3 here. Letting the rest ride. Likely going to consolidation and dip for a few days.