We are now in the early stage of a correction down to the .618 fib retracement which should land us right around $48.50's. This is just a correction of the last run from the $41. What this means as that we are still on an uptrend, but first LTC needs to consolidate before the next run up to the $70's
A very good opportunity to go LONG once you see a reversal candlestick pattern on Daily Time Frame or any other confirmation on lower Time Frame. Fibonacci Retracement is 50% right on previous structure as well as support of diagonal trend line. What do you guys think?
Did 5 waves to the upside on daily timeframe. Hit strong resistance levels around 1.03444. Currently on wave 2 within correction wave A, which means wave 3 will drop soon. Im thinking a drop to 50% fibonacci levels.
Trading can be so complex and intricate sometimes. I try to keep it as simple as possible. Impulse, correction, impulse. Identify the corrections and trade the trend continuations. Pair that with a little technical analysis and viola! A corrective channel structure has taken shape here. Anticipating the bearish breakout to continue the trend. I take the trade only...
1.Daily MACD hidden divergence and zoomed to H4 MACD hidden divergence. 2. HH, HL formation. 3. RSI is Overbought. 4. 50% Fibonacci Retracement. 5. Strong daily resistance zone.
The Potential Reversal Zone on this butterfly pattern is right above a previous major low. Because of this the risk is tiny compared to the reward. (1:10 for target 1), (1:18 for target 2). Entry at 27.74. Stops below 27.56. Potential targets at 29.95, and 31.37.
Howdy, This could go either way so worth keeping an eye on this pair as today's candle has not finished yet We have as you can see resistance but that could break through and retest as new support to go higher or create a new lower low. As always any feedback welcome good or bad.....still learning before I go LIVE