LitecoinUpdated Upside Down Rusty Trombone
An unusual chart pattern to say the least. The rust is indicating we need to reach around 717 on the FIB. If we see that happen, our brass will begin to shine leaving us with a nice finish. On the other hand, if the Coppock Curve continues to show weakness against the 20 day, we may end up with an unplayable trombone. In the unlikely event that the Parabolic SAR crosses through the West trendline, we'd see a nice run up (or down) or sideways.
Note
So far we're doing a nice job going sideways in the center of the rim. If this continues, we should finish nicely on a head and shoulders pattern.
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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.