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Litecoin / British Pound

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LTCGBP trade ideas

Head & Shoulders and the ARC.We have seen LTC move within the same range from 13th Jan between 42.29 AND 46.27 But now we formed another Head and Shoulder pattern, the second such H&S in the last few days. So will this one fail too? Two levels to look out for above 47.27 Buy in and below 40.88 short. For now we move sideway but forming a Higher Low as we do so. (shown by the white line) Indicators Volume has tappered off and MACD looks to be turning up on 4HR time frame We could continue to follow the Arc shape and continue to move up Its a wait game. Wolf
by Wolfskoll
CONSOLIDATION, BEFORE ONE LAST MOVE UPWe have a double top now in play and a drop back to support. If this support breaks its a 30% drop! We can see a triangle forming, a possible last consolidation before a move up, so why im I saying a move up? We have seen a lot of action take place over the weekends were great moves up or down have happened. So why did we not see that this weekend? Of course we could see it happen today and thats why you see two paths on this idea. It would be stupid not to include both. But if we look back at this time last April you might see a similar move that happened. Alts have continued to move up and we see BTC has held its price with no bigger drops than 200/250. So I will be watching BTC to see if it holds any move below $8600 and its down for LTC. So one last move up might be on the cards. Wolf (just a noob)
by Wolfskoll
Incoming Head and Shoulders?So we look to have hit resistance and formed a head now to see if we form a Right Shoulder and move down. Retail money normal play these forming patters, but Whales love to just play with retail cash and watch as Shorts are put in place and then then make a fake up move before heading down. Its 60% we go down 35% we go up and the 5% that we continue up from here to 52. So im out until I see what happens. But this noob guess is down to the Green support line. But I would say that long term we go up, just look at that Volume we had the last few days. Wolf
by Wolfskoll
Bull Flag?We have seen some great growth the last days, To see more stable growth we should have a retrace before moving up again. This will make the next move up more stable. On the 1 hr time frame we can see a Bull flag forming with a target of around 42. Of course we could see the flag fall and the formation of a Head and Shoulder pattern form. We did have a H&S form before the weekend and it failed as I predicted in my last post (yea a shock to me as well, the prediction that is). So a second has started to form something I have seen before, the first fails a second , third etc form. So long term we look to have formed a double bottom and we have broken the Blue down trend line. this is a great chance to go long I think, and see growth to my first long target around 63. We have seen the price retraced over 75% and falling volume, with most trades focused on BTC little has been said about LTC, what has been said is that LTC will fail and/or fall to 12. But the last few days we have seen an increase of around 16% and we broke the downward pressure of the Bear Channel. So what does the LTC indicators say ? Do they confirm a Reversal? LMacd has flipped bullish on one day and we can see it has started to turn up ward on the one week chart, Longs are starting to accumulate more and we see that we are above the level of 48 on the RSI Again im a Noob and have loads to learn. This is not road map for you to run off and take what i say as GOLD. Please help and encourage me and give me a like. Its what I look for when I publish these posts. Wolf - Always tip your Barber, he works hard for what little he gets.
Long
by Wolfskoll
Head and Shoulder Formation With Trump pulling the plug on War, we see how the LTC and BTC markets are news linked. And now we have a head and shoulder formation, quite a nice pattern has formed and a clear path to short to 32.16. But this being the market it is, I will not be making any clear plans to enter a Short until i see a clear conformation. On the upside this H&S could fail and we move up to 40. If we do see a bounce from the green support line we are at now I will not be entering a trade until we reach 35. Don't follow my advice as i'm still learning, do your own research. Please leave alike it free for you and it encourages me to keep learning. Wolf I see we have a move up as i'm writing this.
by Wolfskoll
LTC continues downSo we got rejected at 32:00 and we look to continue the downtrend to 24:45. I will be slowly buying in and looking for evidence of a bottoming, (H&S, double bottom, adam & eve, etc )plus conformation of a new up trend, but i think we could see a more side ways moment as we dip into a great buy zone at 24:00 level. It is possible to drop below that green support level, that would be very bad news for LTC tho. So for now its wait and see if we break that blue channel. Wolf
Short
by Wolfskoll
ltc/gbpWe have seen a nice slow steady drop to the major Green support line. No big dumps (yet). So Volume is low and that's why we see a steady drop, looking at BTC we can see a large build up of Longs, so what can this mean? A big move coming up soon? As its the weekend im expecting a possible move up to the box and then back down, but we could see a drop and then up, it is the weekend after all lots of fake brake up and downs. Over all long term we either move up from this green support level or we could see a large dump down to the twenties. We are at a very important level at this point I think? So what do you think?
by Wolfskoll
LTCGBPThis chart chow the support and resistance lines for the pair LTC GBP. We do seem to be forming a double Bottom on the 60 min chart. so were do we go from here, its been a slow decent to possible form a double bottom and not a fast drop, so its odds on a move up if there is volume, but volume has been so low of lates its very possible that we continue the trend down to a lower support level. I know thats not a very clear analysis but both are possible. Lmacd does indicate we continue down tho.
by Wolfskoll