Going long here, Level 1 established, Level 2 established - Looking for a level 3 rise
Price has reached %50 retracement of level 2, looking for a drop to level 3 - could be a big one.
See annotations on chart, expecting a level 2 drop here.
We see a 3 level drop cycle complete, looking for a Level 1 Rise in new cycle.
3 Level cycle complete, turning it around now, Level 1 Drop
3 Level cycle completed up, 3 level cycle down commencing
Price has moved 3 Levels UP, expect a drop from here.
Probably look for a H&S or 'M' Formation before going short here.
We have completed 3 levels of drop, looking for price to retrace now.
Looking for a break of the 1x1 gann angle, for a down turn for this stock, a return to the lower gann line as per the arrow indicates.
This stock has been bullish for quite some time now, but it appears to have hit resistance at the 172 level indicated, looking for some retracement as the second shoulder has printed, confirming a short bias.
Here presents a good R:R trade, using a tight stop loss the geometry tells us that there is a possible reverse of trend.
Looking at a 'bump and run' formation here, looking price to come back to the lower gann line.
It appears price has exhausted itself here, but I would put it past them to go back and try and entice the bulls forming a head and shoulders pattern, here we will look to short with appropriate take profits marked on the chart.
Looking for an aggressive move here above $75 and litecoin should be on its way north. We are in the 'bump' phase of a bump and run formation (BARF)
We are looking for a second shoulder to present itself before taking a short around the $213 level, take profits are clearly marked by the arrows.