Hi Everyone, it looks to me like LTC/USD is completing a falling wedge pattern after a large uptrend (bullish combination). This seems like a very good buy zone especially considering that the price has fallen down to, and is hovering, at the 61.8% golden fibonacci retracement ratio. I am a noob so don't trade solely on my advice!!!!!
Buy:
Once a 4hr candle closes above the trend line, probably $235-$240 if it breaks
Significant volume increase. Suggestion is shown with a black line in the volume indicator window.
Target 1:
$365 - Height of wedge
Stop-Loss:
$160 - Apprx level of next lower fib retracement with cushion
Feedback from experienced traders is much appreciated!
Buy:
Once a 4hr candle closes above the trend line, probably $235-$240 if it breaks
Significant volume increase. Suggestion is shown with a black line in the volume indicator window.
Target 1:
$365 - Height of wedge
Stop-Loss:
$160 - Apprx level of next lower fib retracement with cushion
Feedback from experienced traders is much appreciated!
Note
I posted an update to this chart here:Note
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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.