LTC Out of Steam
Updated
Yesterday, LTCUSD traded in lockstep w/ BTCUSD throughout the US session and beginning of the Asian session. However, at about 11pm EST, when BTCUSD broke out above 5620, LTCUSD stalled and didn't budge. It made a double top at trendline resistance which coincided with the 100% fib ext at 62.01. This morning, it tried again to rally, but put in another (lower) double top, which also appears to be forming the right shoulder of a H&S. I'm short at 57.34 and will continue to hold short. Even a BTCUSD move higher doesn't look like it has the strength to pull LTCUSD along with it. Looking for 54.00
Trade closed: stop reached
Stopped out...back on the long side.Trade active
OK. Back short. Same reasons. Got skiddish and should have trusted my analysis and gut. Shorting to 54.Trade closed manually
FLAT. LTC is killing me w/ indecision today.
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