tradingmotives

Revised analysis for Bulls using Modified Schiff

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Revised location of blue zone support for Bulls using a modified Schiff
Trade active: Just hit blue zone. Now monitor reaction. If Bulls can hold support, then look for breach & close > red upper parallel. Trade setup invalid if price does not find support > 221
Trade active: Blue zone support holding for now. Monitoring breach > red Median Line Parallel
Comment: Blue zone support held. Looking for new highs while upper parallel holds as support
Comment: Note support in blue zone at the upper parallel held & buyers have stepped in above the upper parallel since. Overlapping price action though, so support on or above the median line parallel is important.
Trade closed: stop reached: Stopped out at 334. Deeper correction unfolding.
Comment: Potential complex correction (eg triangle)

Comments

Just hit blue zone. Now monitor reaction. If Bulls can hold support, then look for a strong breach & close > red upper parallel
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter