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LTCUSD completing final leg of BAT | Upto 29.5% expectedOn 4-hour chart, the price action of Litecoin is completing the final leg of bullish BAT pattern, soon it will be entered in the potential reversal zone. Buying And Sell Targets: The buying and sell targets according to harmonic BAR pattern should be: Potential reversal or buying zone: $ 70.44 to $ 67.57 Fibonacci projection or sell zone: $ 77.28 to $ 87.57 Stop Loss: The potential reversal zone area that is up to $67.57 can be used as stop loss in case of complete candlestick closes below this level. Possible profit and loss ratio: As per above targets this trade has a profit possibility of 29.5% and as per the above-mentioned stop loss, the loss possibility is 4.1%. Note: Above idea is for educational purpose only.
COINBASE:LTCUSDLong
by moon333
LTCUSD formed bullish Shark | A good long opportunityPriceline of world's 6th largest cryptocurrency Lite Coin (LTC) has formed bullish Shark pattern and entered in potential reversal zone. This potential reversal zone should be used as stop loss in case of complete candle stick closes below this zone. Let’s have a look on the dimensions of LTC price action's moves: 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 leg's Fibonacci projection (there is little bit difference which i have ignored coz all other legs are driven perfectly as required for bullish Shark) and final (C to D) leg is retraced between 0.886 to 1.13 Fibonacci as required for perfect perfect bullish Shark and now we are entered in potential reversal zone of this bullish Shark pattern, now we can expect bullish divergence at any time which will lead the priceline between 0.382 to 0.786 Fibonacci projection of C to D leg, but after this bullish divergence if the candles sticks will be closed above 0.786 Fibonacci levels then it can also lead to the long term bullish move. As per Fibonacci sequence method we can set our targets as below for mid term trade: Buy between: $42.25 to $41.84 Sell between: $42.67 to $43.55 So this very short term 2 hr based chart trade is a good long opportunity for Lite Coin's day traders. Regards, Atif Akbar (moon333) The harmonic moves analysis involves hours of hard work and determination however the success of harmonic trading in fiat and cryptocurrencies is around 80% therefore it is always important that you follow any stop loss strategy while trading harmonic patterns I have also shared a stop loss idea in this article, the information in this article is for educational purpose only this is not intended to be investment advice, I have tried my best to catch the harmonic moves as per predefined classical harmonic bullish Shark pattern if you find any flaw or you have any suggestion feel free to share with me in comments section.
COINBASE:LTCUSDLong
by moon333
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