Yungfinance
$LTC LONG TRADE IDEA
Re-entry long LTC was along the $41.77 support line, noticed that price wicked down to $39.25 to a T and held it respectively.
Now price is bouncing back above this 3-year long uptrend , which is drawn from the start of the 2017 bull trend and has been validated over time.
Super bullish wick off that trend, doji candle but I wouldn’t be surprised if there was another test of this uptrend or even the $40 psychological support level
LTC and all the other major pairs are getting smacked in terms of BTC pairs. We’re just trading USDT pairs for now in the premium channel
Conservative sell target is the bottom candle of the previous swing high at $48.58
2nd sell target is the top of the previous swing high at $50.67
From that point when LTC makes par with previous swing highs, I’ll reevaluate my position and see where we are from there.
SILVER UPDATE: SILVER TO BOTTOM BEFORE THE END OF AUGUSTTHIS IS AN UPDATE TO MY PREVIOUS TA'S. AS WE CAN SEE INDICATED IN THE RSI, SILVER GOES THROUGH 32 DAY CONSOLIDATE/GROW PHASES. AS WELL, SILVER HAS BEEN REMARKABLY CORRELATED TO MOON PHASES. USING THIS AS A CATALYST, THE NEXT MOON PHASE IS AUGUST 18TH, FOLLOWING ANOTHER SEPTEMBER 2ND. I BELIEVE THAT SILVER WILL BOTTOM AROUND THE INDICATED WEDGE OVER THE NEXT COUPLE OF WEEKS AND CONTINUE ITS NEXT GROWTH PHASE MOVING INTO SEPTEMBER. IGNORE THE NEGATIVITY IN THE MEDIA ABOUT GOLD AND SILVER AND STICK TO THE LONG TERM FUNDAMENTALS; REMEMBER, NO BIAS. - YF
$BTCUSD BULL WAVE TO $500 BY END OF FEBRUARYBTCUSD HAS BROKEN OUT OF THE TOP OF ITS 28 DAY CONSOLIDATION AND HIT ITS FIRST RESISTANCE LEVEL AT $389.97. **LEVELS FROM BTCE:BTCUSD**
HERE IS A LIKELY PRICE SCENARIO FOR THE NEXT 3 WEEKS:
1. PRICE FINISHES CONSOLIDATION AT FIRST LEVEL AND BREAKS UP TO 400.84
2. CONSOLIDATES QUICKLY BETWEEN $389.97-400.00 AND MOVES INTO $420.00-430.00 RANGE
3. FALLS DOWN TO 400 AND POSSIBLE QUICK BOUNCE TO $389.00
4. SNAPS QUICKLY TO $440.00, BOUNCES OFF $430.00 UP TO $463.15-470.44
5. LAST 1-3 DAY CONSOLIDATION BEFORE HITTING $500.00 RANGE BY END OF FEBRUARY
UNLIKELY (BUT POSSIBLE) BEAR SCENARIO:
1. HITS UP TO 400.84 AND POSSIBLY $420-430 BEFORE FAILING TO BREAK
2. FALLS THROUGH $367.29 LEVEL AND HITS SUB $300.00 PRICES QUICKLY
3. WILL MAKE NEW TA MAPPING LEVELS IF BREAKS 367.29
GOLD TO THE GRAVETHE CLASSIC PSYCHOLOGY OF A MARKET CYCLE.
WE SEE THESE EMOTIONS THROUGH RETAIL
INVESTORS WORLDWIDE. MAKE SURE YOU
HAVE 20/20 HINDSIGHT ON GOLD BEFORE YOU
GET CAUGHT IN THE HERD.
REMEMBER, NO BIAS.
@YUNGFINANCE
WHY AUDUSD MIGHT BE A GOOD LONG-TERM SHORTALL CURRENCY PAIRS IN WHICH THE USD IS THE
DENOMINATOR HAVE BEEN FOLLOWING A SIMILAR
ARC SHAPE SINCE THE 2009 RECESSION.
AS WE CAN SEE HERE, JPYUSD, CADUSD HAVE REACHED
THEIR PREVIOUS SUPPORT AREAS. ONE CURRENCY
PAIR THAT HASNT REACHED ITS PREVIOUS LOW
IS THE AUDUSD. ALL MARKETS WORK TOGETHER,
THEREFORE I BELIEVE THIS PAIR IS LAGGING
COMPARED TO IS RELATIVES. AUDUSD COULD BE
A GOOD POTENTIAL SHORT IN THE LONG RUN
AFTER ITS CURRENT CONSOLIDATION.
MAJOR AUDUSD UPCOMING SUPPORTAUDUSD HAS BEEN FORMING A MONTH-LONG WEDGE, AS WELL AS A DOWNWARD PITCHFORK. AUDUSD IS ABOUT TO INTERACT WITH THE BOTTOM SUPPORT OF THE WEDGE, BOTTOM SUPPORT OF THE PITCHFORK, AS WELL AS HITTING A FIB LINE. IF BOUNCES, LONG, IF BREAKS ALL THREE SUPPORTS, MAJOR WEAKNESS SIGN.
CREDIT TO: ICETRADING FOR THE ORIGINAL PITCHFORK CONCEPT.
