LTCUSD possible 3rd retracement to 50% fib? Let's see
The USDJPY moves sideways last few weeks and getting close to structure high at 107.81, that acts as a resistance level. The market respected that level multiple times (red arrows) and it more likely that it will do it again. If the price goes up it will form a bat pattern, which will increase the probability of this trading setup. The entry point is 88.6% of AD...
Pretty Straight forward analysis. Key Support and resistance levels are in play. Wait for Monday to fake out and trap more buyers with strong candles, I will be setting a pending order so I can get in at the best price possible. follows by a directional push to the down side. take half profits at the target position 1. Wait for the pull back (probably 50...
Please see annotated chart for details.
Checked the 4 hour chart and I see potential uptrend. Retested two points of support, first one shows 0.618 and the second one shows both 0.618/0.50 which can conclude that it will in the future retrace to those levels due to confirmation from previous support levels shown in this analysis. Looking to take profit at the 1.618 on the fib extension.
Please see annotated chart for details.
Please see annotated chart for details.
Please see annotated chart for details.