LTC/USD made a steep upward channel between 31/07 - 10/08 (channel 1) and followed by a correction to trendline before continuing its overall bullish trend. Now channel 2 may be re-emerging and if the pattern is repeating itself, then 47.640 may be a good place to re-enter long.
I have longs since 43.
Hey Guys, I am new to trading and constructive criticism would be highly appreciated.
Findings:
- Bullish Penant at 1d LTCchart
- It looks like the correction has stopped at the bullish red support line (being rejected quite harshly twice)
- Stochastic RSI looks oversold and preparing to turn upward
Overall, I have been long since $42.2 and would add more...
