Hey guys i noticed this pattern on LTCUSD and thought to count it too.
The bearish correction seems to be over therefore i would recommend buying it.
First target shall be the minute wave 3 (purple) with projection of 1.618 at price 155.40
Will update to see how it goes, goodluck!
The bearish correction seems to be over therefore i would recommend buying it.
First target shall be the minute wave 3 (purple) with projection of 1.618 at price 155.40
Will update to see how it goes, goodluck!
Trade closed manually
Wave 4 entered price territority of Wave 1 in the lower degree therefore it is not an impulse wave.
My count was wrong and the trade is closed on this spot.
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Note
Comment: The rally up was indeed an impulse which reached 161.8 Fibo as wave 3 should reach and then 200 fibo for wave 5. But i see that as C correction wave which was finished and the downtrend continues now.Goodluck guys!
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.