LTC / BTC - Trade is on - What do you think
Updated
Hey everyone.. Check the links below for back history on this and my TA on LTC.
Right now, from the 4hr chart, it looks like my thoughts on a double bottom and falling wedge (both indicators of reversal) are potentially starting to come true. (WOOT!!)
We have a close above and current confirmation of move to the upside. I'll be monitoring over the next couple 4hrs to see were we are moving. Right now I'm looking to see continued upside movement and want to get to the $160 mark. 15 - to the 4hr all shows positive for gains. We have our MAs all repositioning to reflect upside action.
What do you think? Trade good?
Check out my profile for the NEO video and posting on "cup and handle" pattern. If that turns out right NEO is about to blast off..
Right now, from the 4hr chart, it looks like my thoughts on a double bottom and falling wedge (both indicators of reversal) are potentially starting to come true. (WOOT!!)
We have a close above and current confirmation of move to the upside. I'll be monitoring over the next couple 4hrs to see were we are moving. Right now I'm looking to see continued upside movement and want to get to the $160 mark. 15 - to the 4hr all shows positive for gains. We have our MAs all repositioning to reflect upside action.
What do you think? Trade good?
Check out my profile for the NEO video and posting on "cup and handle" pattern. If that turns out right NEO is about to blast off..
Note
FYI. My order filled earlier on this one when I originally tried to it up. I think it was because I wasn't 100% on entering here on tradingview. The idea was to jump in at 152 but it put in at 145ish or something. Noob move when doing the paper trade piece
Note
Crap... Also ignore the title of LTC /BTC . most my of my crypto is paired on BTC so typing that is habbit.Note
We got a break/close above $160 mark. Trade is looking good
LTC is look pretty good right now.
Note
tradingview.com/chart/EQyqCtBd/Yesterday's candle on the Day chart closed above the $160 mark but today we've seen a retracement (pull back). On the 4hr chart our new structure high (NSH) made yesterday gives us a retracement of $152 for 618 Fib and 148 for 786. We are riding the 618 w/ spikes spot on the 786. The 36 day MA is providing support on 618. Starting on the 15min we are starting to see a price action move up, 30 min found support at the 200 MA. We need the current candle to close above the MA to confirm cotinued upside to the 1hr + charts.
We need to translate the above into this. Waiting to see the current 4hr candle close above $152 and then a follow on open/close above to confirm additional test of $160 as resistance.
Note
Here is the right screenshot w/ comment below:
Yesterday's candle on the Day chart closed above the $160 mark but today we've seen a retracement (pull back). On the 4hr chart our new structure high (NSH) made yesterday gives us a retracement of $152 for 618 Fib and 148 for 786. We are riding the 618 w/ spikes spot on the 786. The 36 day MA is providing support on 618. Starting on the 15min we are starting to see a price action move up, 30 min found support at the 200 MA. We need the current candle to close above the MA to confirm cotinued upside to the 1hr + charts.
We need to translate the above into this. Waiting to see the current 4hr candle close above $152 and then a follow on open/close above to confirm additional test of $160 as resistance.
Note
4hr Chart posted . (updated with the arrow to show were neckline should be for double bottom)
Day Chart
LTC tested the 200 day MA for support nicely through out last week and now is finding support around $148 area. Price action is playing between 200 and 36 days.
4hr Chart
Price action appears to be moving to the upside. We have price moving above the 36 day and the slow MA have crossed to the upside. Priace action is currently testing the $160 mark as S/R. We need price to get above $160 and close. Once there we'll need $168 to fall to allow continued upside.
The trade still looks intact since price action invalidated the double bottom by either falling to a new lower low or making a new structure high.
$160 -0168 is where we are playing.
Note
So this one finally played out. Below is an updated screenshot with comment. My original plan played out in my favor although I missed the neckline call on the initial setup. 
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