LTCUSD potential leading diagonal wave 1 setup
LONG setup for LTCUSD:
Entry at $54.5, (confluence of 0.618*A = C as well as 0.618 retracement of the whole leading diagonal)
Stop at $47.1 (under last low, would deny the diagonal being wave 1)
Targets = $73 (wave1 = wave3) and $84 (1.618*wave1 = wave3)
Entry at $54.5, (confluence of 0.618*A = C as well as 0.618 retracement of the whole leading diagonal)
Stop at $47.1 (under last low, would deny the diagonal being wave 1)
Targets = $73 (wave1 = wave3) and $84 (1.618*wave1 = wave3)
Trade active
Note
Likely there is still 1 more small wave (5th of C) down ahead, so if you want to enter this trade but haven't yet, a buy limit at $51 (with stop at $47.1 and T1 = $68 and T2 = $80) would be perfect entry.Note
As predicted, today was another opportunity to get in at $51 (lowest point was around $50.4 or so), thought it is still possible there will be another small wave down while still keeping the main count intact, it is not likely anymore.Note
Insane pump on USDT exchanges. Is this a little spook or Tether really going to 0? Either way, I don't have any plans to change anything as my collateral is all in crypto anyway and I have a long vs USDT (this LTCUSDT long). A bit of insight: twitter.com/CarpeNoctom/status/1051718693833437184
Note
Ouch, got hit really close to the stop. But no fretting, letting it play out.Trade closed: stop reached
TAKE DOWN
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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.