LTC/USD Analysis_Neutral( Wait for a breakout to see the trend)
Updated
Hi everyone,
I have 2 possible scenario that more likely explode soon in my analysis for LTC/USD. We have symmetrical triangle formation and the best way to trade these formations are to wait for a breakout doesn't matter upward or downwards. After a breakout we always see small correction after a short rally and then we see longer rally just after the correction and the lines I draw exactly refers to what I explained now. From my point of view, I'd definitely expect to see the trend drawn by green since we already had uptrend before the triangle formation occurred.
All in all, I'd aim to see 115-120$ in few months. I expect to see a bullish trend just after a breakout and keep in mind that we will definitely have corrections on the way of bullish trend.
Again please also keep in mind that, best time to open a position is just after a breakout. If we see a breakout upwards then the trend will more likely be bullish, and if it breakouts downwards, then the trend will more likely be bullish.
Tip ! : This is not an investment advice. This analysis is prepared for educational purposes only and individuals should make their own research to trade !!!
I have 2 possible scenario that more likely explode soon in my analysis for LTC/USD. We have symmetrical triangle formation and the best way to trade these formations are to wait for a breakout doesn't matter upward or downwards. After a breakout we always see small correction after a short rally and then we see longer rally just after the correction and the lines I draw exactly refers to what I explained now. From my point of view, I'd definitely expect to see the trend drawn by green since we already had uptrend before the triangle formation occurred.
All in all, I'd aim to see 115-120$ in few months. I expect to see a bullish trend just after a breakout and keep in mind that we will definitely have corrections on the way of bullish trend.
Again please also keep in mind that, best time to open a position is just after a breakout. If we see a breakout upwards then the trend will more likely be bullish, and if it breakouts downwards, then the trend will more likely be bullish.
Tip ! : This is not an investment advice. This analysis is prepared for educational purposes only and individuals should make their own research to trade !!!
Note
I've noticed that I made a mistake on my analysis. At the 3rd paragraph the word of bulllish at the end of the sentence supposed to be bearish. Thank you
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