NAS Retracement possibleWe're pretty close to the midnight line, but there could be a retracement back toward the NYC Midnight opening price.
Looking for one more rejection with the top price zone.
Pivotreversal
LONG LTCUSDT (4H)The ELLIPSE trading strategy has generated a long signal (4H timeframe) for Litecoin (LTC) at $77.51.
The price has recently broken through the monthly pivot (P) level (denoted by the orange line) and has subsequently seen both the price and lagging line on the daily chart break out of the Ichimoku cloud (as evidenced by the green background on the 4-hour chart).
The first significant resistance level encountered was the yearly pivot (P) at $88 (indicated by the black line). The price has been hovering around this level for approximately 2 weeks.
Today, the price has broken through this level with high volume, indicating that the trend is likely to continue with the next major resistance level being the yearly resistance (R1) at around $135. Keep in mind that there may be additional resistance around monthly R3 ($107), R4 ($118) and R5 ($129).
Additionally, the alignment of all 9, 21, 50, 100 and 200 exponential moving averages suggests a bullish trend.
Note that the halving of the block reward is scheduled to occur around August this year, which has historically led to a bullish momentum.
Time to Go Long?Maybe. On higher timeframe, still looks bearish, a Bounce is likely from the 21 MA IMO.
See the 'h' pattern? Primary and Secondary sells. Indecision and consolidation followed.
Would not get real Bullish just yet, although it sure suggests we could see higher next week.
These indicators are by no means foolproof, but they do help you to not make expensive mistakes;
so, closing shorts might be wise here, even if it's too soon to go long.
Not investing advice; trade at your own risk, GLTA!
DJIA Topped Three Drives on 11/7/19?!Update to prior idea. note the triple top Fibonacci ratio is a perfect 1.05 in both valleys. Got a shooting star up here. Rollover imminent IMO!
Short at your own risk and don't blame me if it fools us again! This is just an observation, not advice. GLTA!
