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LTCBTC forming bullish Gartley | A good long opportunity aheadPreviously on 8th Jan I posted an article where on 12 hour chart the Litecoin with Bitcoin pair was forming bullish Shark then finally the price action of LTC entered in PRZ area and produced more than 45% gains. Formation of bullish Gartley: This time on very short term 2 hour based chart the price action of LTC with Bitcoin pair is forming bullish harmonic Gartley pattern and soon it will be entered in potential reversal zone. Buying And Sell Targets: The buying and sell targets according to harmonic Gartley pattern should be: Buy between: 0.006284 to 0.006260 sats Sell between: 0.006303 to 0.006350 sats Stop Loss: The potential reversal zone area which is up to 0.006260 sats can be used as stop loss in case of complete candle sticks closes below this level. This idea is for short term traders not a long term idea; I will be keep posting more trading ideas. Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
Long
by moon333
LTCUSD has completed bullish setup for big bullish rallyA powerful bullish signal 2nd time appeared in history of LTC: In June 2016 there was first time in the history of Litecoin the 50 simple moving average crossed up the 100 simple moving average on weekly chart. And this golden cross produced really very powerful bullish rally upto 8000%. This year in Feb 2020 second time in the history we have received the same strong bullish signals that the 50 SMA has formed the golden cross with 100 simple moving average but there is some difference between the both golden crosses. When the 50 simple moving average formed the golden cross with 100 SMA in 2016 at that time this cross was formed beneath the price action therefore the candlesticks did not have the resistance of 50 and 100 simple moving averages above them. But this time the golden cross has been formed above the candlestick therefore we the priceline had a very strong resistance of these two moving averages and eventually the price action could not break out this resistance level and dropped down again. But there is a very strong positive sign that so far the 50 moving average did not form a death cross with the 100 simple moving average and both simple moving averages are moving sideways. But if the 50 SMA will again form a death cross with 100 simple moving average then it cannot produce very strong bearish trend because the distance between the both moving averages is very low. If 50 SMA would be coming from the long distance and form the death cross with the 100 simple moving average then it could produce very disasters bearish rally. In 2016 the golden cross formed beneath the candlesticks Current golden cross formed above the candlesticks and working as resistance Second strong bullish signal: There is another very strong bullish signal is appeared on very long term monthly chart. And that is the priceline of Lite Coin is hitting at 50 simple moving average support second time in the history of LTC. Even though this month we have is very strong long bearish candlestick but if we see the momentum indicator then it is still turning bullish and ignoring this bearish trend. And the stochastic has given bull cross from very close to oversold zone area. Before this the price action has touched the 50 simple moving average on this monthly chart in December 2018 and after that we have witnessed a very strong bullish rally up to 563%. Therefore if price action will be able to cross up the resistance of 50 and 100 simple moving averages on weekly chart then we can witness same kind of bullish rally again. A big descending triangle: Now I am switching back to the weekly chart. And here we can see that the price line of LTC is moving in a descending triangle. The price action was entered in this triangle on May 2017 and at this time we can observe that the price line has reached very close to the support of this triangle and moving up now. If we more closely observe the priceline then it can be clearly seen that this time the priceline is not able to hit at the support even though it was moved very close to the support. And the reason is that when the priceline had hit the support in the past at that time the Bollinger bands was also at the support of the triangle but at this time the bollinger bands is above the triangle and there is distance between the bollinger bands and the triangle support. Therefore the bollinger bands has stopped the price action to reach up to the support. I've also placed the volume profile on the complete price action moving within this triangle and as a result we can see that the trader’s interest is up to the support and that is bit critical but the point of control of this volume profile is at $61.5. Therefore tere are strong chances that soon the priceline will be pulled back to the POC level of the volume profile. After that there are also chances that priceline will again make another attempt to break out the resistance of the triangle. We can also see that at this time the triangle is quite squeezed and the movement of the price line is also getting quite narrowed and this is the decision making for the Litecoin’s priceline whether it has to break down or break out. Formation of harmonic Crab a bullish reversal signal: If we switch to the smaller time period 2 day chart then it can be clearly examined that at the support of this descending triangle the priceline has formed a bullish Crab pattern. The priceline has just hit the spike in the potential reversal zone of this Crab pattern and turned back and entered in the Fibonacci projection area of A to D leg between 0.382 to 0.786 Fib projection. But I am expecting that this pattern will be helpful for the price line to move up even the priceline can cross up the 0.786 Fibonacci protection level. And once it will be able to cross up the 0.786 Fib projection then it can use this level as support and make a powerful attempt to have a break out from the descending triangle’s resistance. Conclusion: All indicators chart parent and signals are in favour of bulls rather bears. Therefore there are less chances that priceline will break down the support of the descending triangle. So we should be ready for big profit gains. But the support of triangle should be used as stop loss because if this support will be broken down then there can be power bearish move. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
COINBASE:LTCUSDLong
by moon333
6
LTCUSD forming bullish Crab | For a big bullish moveHi Folks hope you are well, here I have found another profit potential trading idea and this time on 2 day chart the Lite coin (LTC) is forming bullish Crab pattern, we need some more drop and then soon it will be entered in potential reversal zone to move up. Let’s dig this pattern deeper to examine how perfect this pattern is formed: After initial leg (X to A) the A to B leg is retraced between 0.328 to 0.618 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) should be retraced between 1.27 to 161.8 Fibonacci then the priceline will be ready to take bullish or upwards move. Buying And Sell Targets: The buying and sell targets according to harmonic Crab pattern should be: Buy between: $22.75 to $5.83 Sell between: $35.88 to $67.63 So this trade has up to 162% big profit possibility. Stop Loss: The potential reversal zone area can be used as stop loss in case of complete candle stick closes below this level. Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own research before any investment.
COINBASE:LTCUSDLong
by moon333
1
LTCUSD forming bullish Shark | Upto 12% move aheadHi fox hope you are well, here I have found another profit potential trading idea for you and this time on 6 hour chart the Litecoin (LTC) is forming bullish Shark pattern and soon it will be entered in potential reversal zone to move up. The Pattern: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move. Buying And Sell Targets: The buying and sell targets according to harmonic Shark pattern should be: Buy between: $56.78 to $55.22 Sell between: $58.56 to $62.15 Stop Loss: The potential reversal zone area which is up to to $55.22 can be used as stop loss in case of complete candle stick closes below this level.
COINBASE:LTCUSDLong
by moon333
2
LITECOIN cYpHeRLong term bearish cypher, easy profits to be made in the short term with a golden cross present on the weekly chart. This golden cross has proven to be successful on BTCUSD so why wouldn't it be on LTC? Best to go long. Included a fractal for the cypher not sure how accurate it will be lets just see how it plays out :P. I still believe ERC-20 Tokens and Ethereum will outperform BTC and LTC in throughout MARCH. Very nice range for trading. Potential for a lot of movement upwards.
COINBASE:LTCUSDLong
by Bixley
LTCUSD formed bullish BAT | Upto 42% MoveHi friends hope you are well, here I have found another profit potential trading idea for you and this time I have found a harmonic move by Litecoin. The Priceline of LTC has formed bullish BAT pattern and entered in potential reversal zone and ready for bullish reversal soon. Let’s have a look on the LTC move: After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.50 Fibonacci and then B to C leg is projected between 0.382 to 0.886 of A to B Fibonacci projection area and last leg (C to D) is retraced between 0.786 to 0.886 Fibonacci and now the price action is moving in potential reversal zone of this bullish BAT and now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of A to D leg , but if after this bullish divergence the candles sticks will be closed above the 0.786 Fibonacci projection area of A to D leg then it can also lead to the long term bullish move. We also have a 100 simple moving average in PRZ level that can be a strong support to push the price action up to 42%. Buying And Sell Targets: The buying and sell targets according to harmonic BAT pattern should be: Buy between: $57.85 to $54.63 Sell between: $65.99 to $78.08 Stop Loss: The potential reversal zone area which is up to $54.63 can be used as stop loss in case of complete candle stick closes below this level.
COINBASE:LTCUSDLong
by moon333
1
Wave 3 About to Commence - LTCCurrent trading channel. We are at the heart-line with no real clear direction, me personally thinking this could be a wave 3 up all the way to that 2.168 with a pullback to the heart-line as support before more bullish movement. Let me be clear, this is a terrible place to make a trade, as we are currently in a spot where the market will make a decision that we should wait for and ride with, not try and guess. I am waiting for a push over the heart-line to try a long to surf that wave 3, if rejected at the heart-line, I am not shorting -- only if it hits the 2.168 would I try a short position. Green box I would long, red box I would short. Good luck everyone. DISCLAIMER: I DO OWN LITECOIN
COINBASE:LTCUSDLong
by thejdela