Long

Updated

LTC retrace targets: Update

Based on the slightly higher top than expected, I have adjusted my entry zones.

LTC has been liking the 382 fibs, worth noting for future consideration.

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This is an adjustment to my previous plan posted here:

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I might have missed a scalp entry.
But there will probably be more correcting early next week.
So will see how Sunday goes and keep an eye on the zones.

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Perfect bounce down from weekly pivot (green)
LTC is not diving like BTC just did, a very good sign.
So am going to load some limit buys in my first green zone

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Per my updated TA above, I did buy some in the darker green zone.
Have now sold 60% of that position, with trailing stop on rest.
If it keeps going, then I will let the trailing stop protect remaining profits.
If it hits my stop, I will re-evaluate at that time....

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just scooching the stop upwards.

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Trailing stop hit, trade closed.
Will look at next zone, possibly for a better bounce

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Back in the zone, but I think it will break this time, so will watch next zone, or sings of reversal here with a ''double bottom'' maybe (but not likely)

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Fine tuning my next green zone:

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Approaching my next zone.
Down momentum is strong.
Will need to see what the 382 does.

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Watching for signs of buyers

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Looking like an ok bounce.
Not convincing, but sellers look to be gone for now.

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Been watching this 382.
LTC has been hitting the 382 fibs and reacting.
Lets see what this one does.

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LTC has been playing the 382's lately.
I think we may be bouncing here for real now.

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Well, it went a little lower than expected (dont that always?) but bounced.
Now just trailing stops, or might add on dips. Planning options now....

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Bought a little at the possible wave A end, just in case that WAS the bounce. But still wary of a wave C to complete the ABC

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LTC looking break out of its cage.
If it busts out soon, then it will prolly rocket, at least until Europe wakes up.

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Up Periscope please

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Argh, fake break and then drop.
Typical for this time of day, around EU/UK market openings.

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.
150 test inbound.
Approaching my next zone to watch.
Have fined tuned the range.

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.
Thinking we might get a little bounce before 150, perhaps only to fall to 150 after, or maybe turn just north of it since there will be a lot of buyers waiting there (so deny them the ride from the bottom). So I might put some limit buys in my smaller green zone

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LTC is hugging the .382's again.
148-150 ends a Crescendo of wave 5's.
Cant wait to see what happens

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.
This plan has worked out well for scalps.
Now I am just wondering if this was THE bounce?

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.
I still think a 150 test is needed.
And based on those results, I might go ''all in'', or not...

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LTC stuck at this 382

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if it cant break 160 today, it might need to retest 150

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LTC approaching my area of interest.
I was hopping for a retest of 150.
Will watch price action here.

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Fine tuned target I am watching for

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Moment of Truth

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Has LTC found the bottom?
Sellers are spent if you ask me.

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Decision point for LTC
s3.amazonaws.com/tradingview/snapshots/v/V2tpwfOH.png

EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag

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EuroMotif

the Golden Ratio is my Religion
the Trading View is my Nation
the Moderator Tag is my Flag