Great News. LTC is meeting ALL criteria for a Bullish Stochastic Divergence signalling less downside momentum.
The Trade
Entry - $210-215
Stop - $185ish
Target - Hold
- Divergences form when a new high or low in price is not confirmed by the Stochastic Oscillator (Check).
- A bullish divergence forms when price records a lower low, but the Stochastic Oscillator forms a higher low (Check).
- A bullish divergence can be confirmed with a resistance break on the price chart or a Stochastic Oscillator break above 50 (Check)
- Stochastic Oscillator cross above 50 signals that prices are trading in the upper half of their high-low range for the given look-back period (Check).
- A strong close above $210 is all we need for 100% pattern completion (TBD).
The Trade
Entry - $210-215
Stop - $185ish
Target - Hold
Trade active
Note
Failing to hold above $210. Not looking good. Pattern is completely broken below 185.Trade closed: stop reached
Stop ReachedBearish Scenario
Note
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.