Yesterday, LTCUSD traded in lockstep w/ BTCUSD throughout the US session and beginning of the Asian session. However, at about 11pm EST, when BTCUSD broke out above 5620, LTCUSD stalled and didn't budge. It made a double top at trendline resistance which coincided with the 100% fib ext at 62.01. This morning, it tried again to rally, but put in another (lower) double top, which also appears to be forming the right shoulder of a H&S. I'm short at 57.34 and will continue to hold short. Even a BTCUSD move higher doesn't look like it has the strength to pull LTCUSD along with it. Looking for 54.00
Trade closed: stop reached:
Stopped out...back on the long side.
Trade active:
OK. Back short. Same reasons. Got skiddish and should have trusted my analysis and gut. Shorting to 54.
Trade closed manually:
FLAT. LTC is killing me w/ indecision today.