Really quick video to follow up on my Feb 14 video where i explained my expectations for LTC. Those expectation have played out and I did get my expected pull back, so now I'm picking a new target of where i think price action may be moving. I hope you enjoy the video... give me a like and leave me a comment on what you're doing on LTC>
I know I know... clickbaity title, which i apologizes, but LTC has put in a run this morning so it seemed appropriate :). Looks like a setup is playing out nicely and there is profit to be had. So this is a follow up to my post on two setups for LTC back in Feb 9. I had been watching this pair, but had not been able to update as much as i would have liked...
We will have to wait and see :)! A little TA on LTC for your enjoyment. Let me know what you think.
This video is a follow up to a Feb 1 post where I identified two lower level targets as possible buy opportunities, which played out (linked below). Right now price action is looking very bullish and i explain how I'm reading it and two chart patterns taking place and three target levels I'm aiming for. I hope you enjoy the video... give me a like and...
** In the video I stated "double top" and I should of said "double bottom" but you'll get it when watching :) ** Below bullets summary of video: W - Weekly overall showing Bullish, weekly price action has returned to spoke onto the 786 fib retrace, above the 36 day MA (bullish) D - Price action below the 36 day (bearish), 200 MA providing support, slow moving...
I go through my bullish and bearish scenario at this price. waiting for a 5 wave off of previous low to turn bullish. Waves 1 and 4 did overlap which technically invalidates my count. However, based on BTCUSD and how volatile LTCUSD is, I am still short right now and have the 108 as a wave 3 and waiting for a wave 5 to $~70
I'm looking for one more low to bring us to the $108 to $70 range right now assuming this is a zigzag correction 5-3-5. Its hard to catch the bottom so I'm planning to start averaging in depending on what happens tomorrow and then wait for a impulse wave up/correction for a full position.