Long

LITECOIN STILL GOING STRONG, SECOND MOVEMENT OUT OF THREE

Updated

LTC, is still showing signs of strengh against the greenback, momentum towards the upside is still strong. We have good signs of new levels becoming support. And overall the performance is outstanding. Resistance is expected at the psycological level of 400 but not major. Keep holding until next Fib level. Remain calm if price drops after hitting $400 specially during Christmas time. Keep your cool and trade wisely.

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A small update....We are in a downward channel for the time being. Please bear in mind we are in choppy waters due to the crazy season. This added to the fact that the USD appreciates every year around this time give us the current movements. Keep the course to the D extension, be concerned if it doesn't support at $245 - $250. The outer trend line is still supporting, so, for the time being, we are golden.

Remember rule No.1 of trading. Keep to your plan and only change it if there is enough evidence and argumentation behind a decision. Don't listen to HYPE/FUD and never ever change your original plan because somebody in social media gave you a " hot tip".

Wise traders make money over time consistently. Lousy traders....don't.

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Third post-Christmas Update. Just to give my anxious viewers some insight. NOTHING CHANGES! Original set up is still in the green. Cardinal rule of Swing Trading. "The Trade will go your way as long as it doesn't take out the A" Major A still stands, we had a beautiful crown pattern (Head & Sholders) on the 22nd. that reversed the bearish momentum. Right now the waters are still due to the fact that there is no volume (look below at volume levels). I do not expect a strong push to either direction until Jan. The good news is that the new "C" moved to a better place (0.618) and held. Our original D still stands strong (er) at around $480 (+-10). Hope you had a great Christmas like we all did, and that this upcoming 2018 will bring you a lot of blessings.

Cheers.

CS

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Note

I drew this 2 days ago forgot to post it, but the outer trendline is holding perfectly.

The original Post still STANDS PEOPLE!! we are not scalpers nor day traders. We are SWING TRADERS. and make money on each swing. Sometimes it happens faster than others. This trader is only proven to be great. Not only has it provided Us with good swings and entry opportunities it also has provided a time for LTC to consolidate. If you want crazy profits with crazy risk bet on alts, for serious traders diversify and hold good assets longer like LTC, and ETH. Both have been staedy climbers and yielded INCREDIBLE RETURNS, without any of the drawbacks of smaller assets. Rememeber if you opened this Trade with me you are trading with "free" money at this point, and it has already yielded more than 100%. We are looking on 300% initial investment again today. Keep holding until original extensions are hit, don't worry about the rest keep the course and you'll be more than fine. As long as the Long term trendline Holds you are GOLDEN. remember target 2 is at the original D of the second movement but corrected since the consolidation period. $400-$420 Should be the point to cash in for the second time. It is looking good folks.

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People. We are still inside the AB boundary of the minor FIB (hourly). This AB movement is still ACTIVE, therefore until we break out of the boundary there is nothing to do! This one is one of the MAJOR COINS. you are supposed to HOLD it not play it like an ALT.

We are currently HOLDING. there are no signs of major moves either to the upside or downside.

Expect more consolidation throughout this month. Maybe we can see some growth by early FEB.

Things to be happy about?:

- Seems like the bearish momentum has been exhausted
- We could be looking at the tip of the crown formation (still pending confirmation) for a reversal.
-Bearish trendline (red line) was broken and currently moving upwards.
-we are seeing higher lows counting from the AB boundary.

As always. If it ain't broken don't fix it. Just be patient. The price doesn't move at your pace.

Cheers.

CS

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Note

ALright GUYS. TRADE IS STILL ACTIVE. We are not breaking the AB boundary to the upside, consolidation, and indecision have been the main drivers of LTC.

I do Bring some good Fundamental News, the 6th Charlie Lee, published this.

segwit.org/my-vision-for-segwit-and-lightning-networks-on-litecoin-and-bitcoin-cf95a7ab656b

Meaning that we possibly going to see a soft fork. That would also mean lower txn fees, which could provide more LTC adoption.

Almost everyone I know is still holding to LTC. And I do recommend to stick to it for the time being. Remember never get attached to any asset, but this one shows promise even through this choppy times.

We are in the middle of Jan, so just wait and be patient.

Technically speaking there is not much to say. I took some licenses drawing this Head and Shoulders. but we are still bouncing out of the .618 of the minor AB movement.
Again something to be happy about we are seeing higher lows although volumes are low.

Nothing so far to advise any changes. Keep holding for the time being. and follow the recommendations above.

Cheers.

CS

Trade active

Note

Alrighty. We kept our cool and held LTC throughout the storm.

The market is recovering and showing consolidation ahead as usual when these events happen.

If you are still in the original trade Sit down and watch it for a month until we are back at the original TP target. IF not, then look for these entries to the upside.

Cheers.

ChrisSchwarz

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