LTC/USD is forming falling wedge pattern.
All in place:
**Price Trend** — Can be any direction leading to formation.
**Shape** — Price follows two down-sloping and converging trendlines.
**Touches** — Price should touch channel at least 5 times - 3 touches one side and 2 touches of the opposite side.
**Volume** — Trends downward 72% of the time.
**Breakout** — Can be up or down however 68% of times is upward. Breakout happens usually 58% of the way to wedge apex.
**Confirmation** — Pattern become valid once price close outside of channel.
**Price Rise/Decline** — On average 32% up (upward breakout) or 15% decline (downward breakout)
Credit - Thomas N. Bulkowski
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!! IT'S IMPORTANT.
DON'T BE TIGHT - GIVE A LIKE
This information is not a recommendation to buy or sell.
All in place:
**Price Trend** — Can be any direction leading to formation.
**Shape** — Price follows two down-sloping and converging trendlines.
**Touches** — Price should touch channel at least 5 times - 3 touches one side and 2 touches of the opposite side.
**Volume** — Trends downward 72% of the time.
**Breakout** — Can be up or down however 68% of times is upward. Breakout happens usually 58% of the way to wedge apex.
**Confirmation** — Pattern become valid once price close outside of channel.
**Price Rise/Decline** — On average 32% up (upward breakout) or 15% decline (downward breakout)
Credit - Thomas N. Bulkowski
IF YOU LIKE TRADING IDEA SMASH THAT LIKE BUTTON!!! IT'S IMPORTANT.
DON'T BE TIGHT - GIVE A LIKE
This information is not a recommendation to buy or sell.
Comment:
Touching support line
Comment:
Wedge broken downwards
Comment:
LTC/BTC broke massive rising wedge on daily chart. Be ready for drop to continue.
Comment:
Back to the wedge. False breakout.
Comment:
Touching resistance line. We are exactly 60% of the way to wedge apex - place where breakout usually happens.
Comment:
Wedge broken.Now let's see if LTC reach oyr target 227$
Comment:
Bullish flag
Comment:
or early H&S
Comment:
H&S turned to be descending triangle
Probably LTC going down
