LTC appears to have bottomed out on this correction after a major impulse.
It bottomed out much further than anticipated, but it makes sense due to the strength of the impulse.
The rsi has fallen into the nuetral area around 50 and has begun its turn upward.
I will be looking for a third touch on the trendline in the rsi for potential next short opportunity.
Ltc could be potentially riding a steep trend line up out of this correction to a reversal.
This reversal can happen quickly with the growing momentum in the market,
Potential triangle forming upward before pressure to test our major overhead resistance in purple.
This has been an excellent short opportunity, and I am looking forward to a speedy and strong reversal.
This is not financial advice. This is for my enjoyment and reference as a hobby trader.
Dont be shy to critique.
It bottomed out much further than anticipated, but it makes sense due to the strength of the impulse.
The rsi has fallen into the nuetral area around 50 and has begun its turn upward.
I will be looking for a third touch on the trendline in the rsi for potential next short opportunity.
Ltc could be potentially riding a steep trend line up out of this correction to a reversal.
This reversal can happen quickly with the growing momentum in the market,
Potential triangle forming upward before pressure to test our major overhead resistance in purple.
This has been an excellent short opportunity, and I am looking forward to a speedy and strong reversal.
This is not financial advice. This is for my enjoyment and reference as a hobby trader.
Dont be shy to critique.
Comment:
we got a bounce close off that line
Comment:
trend broke to downside
