We may potentially be looking at an LTC bullish channel with price attempting a second touch at the moment. However BTC is currently indecisive and we could see some further bearish momentum on BTCUSD which will negatively affect LTC.
I put together this chart to show you that in reality, all we are seeing is indecision. We should be patient and wait for the market to show us its clear direction. Once we see a break either way, I will be looking to buy/sell from the re-tested structure to the targets marked.
COT Data - 54% Short
IG Client Sentiment - 59% Bullish
Nothing but consolidation all of last week, this is highly visible on the daily timeframe, all that can be seen is side by side candles followed by wicks. If the market wants to continue like this we will simply work with other pairs, however, if we see a clear break below of the structure marked followed by a re-test and rejection, this could open up the...
XAUUSD remains indecisive, price fails to hold above the key level we are interested in and continues to play around on the significant trendline, although I know many of you are keen on trading gold, I would say avoid it until a clear market direction becomes apparent because at the moment you would be diving into the unknown.
COT Data - 53% Long
Price has approached the top of its consolidation range, and has formed a spinning top candle, a good sign of Indecision. Since it is in consolidation, this could be a sign of another bounce moving price to the lower bound of the range.
Dropping to the 4 hour, we don't have signs of much bearish potential. There are signs of bullish potential...
Price on the daily is uptrending, and has recently entered a zone which caused price to begin a long bearish move. There are signs of indecision and bullish rejection, as a doji spinning top and doji bearish pinbar was recently formed, both strong signs we could be seeing a change in momentum to the downside.
Dropping to the 4 hour, we can see...
On the daily, price is in uptrending structure, and has run into the level 1.87000 , which is a prior high. As price first approached this level, it was rejected and formed a candle showing a fair amount of bullish rejection. The following two candles have tested this level and was also rejected. The first of the two candles shows indecision, the second...
Someone asked an advice in chat about Palladium LONG (with TP@756.00) and thought to provide my personal point of view with a more organic answer...
The instrument is uptrend on the long term, but it looks indecisive at the moment; from the chart we can see it is in a range between two Fibonacci levels (and one of them is a resistance as well).
If we entered...