litelong
Long

Bullish flag inside a bigger bull flag

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
First time posting an idea, just want to record my thoughts here. LTC showing much strength on the 15 minute chart accompanied by great volume . Currently painting a beautiful picture of a bull flag ... If broken I expect the price of LTC to make a parabolic move up to a new ATH especially with the upcoming litepay news. Watching very closely. Let me know what you guys think!
Comment: This trade could take place two ways:

1. A more likely scenario would be a break below the orange line sending LTC down to test the yellow line of the bigger bullish flag and continuing to trade sideways until a break above the yellow line leading to a new ATH.

2. An extremely bullish scenario would be a trade sideways within the orange lines of the smaller bullish flag and an eventual break leading to a new ATH.
Comment: It looks like we broke the smaller flag downward however, the big flag is still in play on the larger time frame. This is getting real tight here stay tuned!
Comment: LTC flirting with the topside of the flag but the flag won’t let her through. Stay tuned, the more it hits the top of that flag the more the pressure builds up!! (Hopefully not to the downside)
Comment: not a perfect flag with lines but LTC has just broken out! congrats traders!