HADOUKEN Traders...and entusiast,
I am The Real Johny Button !... hated by press and loved by the haters! Lets look at my opinion on LTC today:
The market cap has made a pull back bellow 400b after reaching a recent high over 450b. That has reflected across the entire market that i follow.
So I like these situations! This means that i can make money CHA CHING
LTC has a lower support line shown on the visual above in Pink. I am thinking it may tag this for a 3rd time, but as we have it now, the price has reach the strong fib level of 38% and could hang there for all I know...
Now the MACD has made 1 and a half down moves...I am waiting for a 3rd down move before i ever consider it bouncing up. I would be trading in at the end of the 3rd MACD wave alongside with other indicators at that point in time...but thats a while away.
So my scenarios at the moment are this: its still coming down...i want it to clearly break the current fib level, and tag the lower support.
note:
Everything moves in 3's. I apply this thought to my charts and MACD reading. I call Elliot wave 12345, 3 waves up because thats just how i see it. 3 is my magical number and has proven to be a nice way to be on a good path for me.
I also have bad grammar, and i have offended goldman sachs mail room workers in the past...to this i am sorry
Regards,
Johny Button
I am The Real Johny Button !... hated by press and loved by the haters! Lets look at my opinion on LTC today:
The market cap has made a pull back bellow 400b after reaching a recent high over 450b. That has reflected across the entire market that i follow.
So I like these situations! This means that i can make money CHA CHING
LTC has a lower support line shown on the visual above in Pink. I am thinking it may tag this for a 3rd time, but as we have it now, the price has reach the strong fib level of 38% and could hang there for all I know...
Now the MACD has made 1 and a half down moves...I am waiting for a 3rd down move before i ever consider it bouncing up. I would be trading in at the end of the 3rd MACD wave alongside with other indicators at that point in time...but thats a while away.
So my scenarios at the moment are this: its still coming down...i want it to clearly break the current fib level, and tag the lower support.
note:
Everything moves in 3's. I apply this thought to my charts and MACD reading. I call Elliot wave 12345, 3 waves up because thats just how i see it. 3 is my magical number and has proven to be a nice way to be on a good path for me.
I also have bad grammar, and i have offended goldman sachs mail room workers in the past...to this i am sorry
Regards,
Johny Button
chasing the support level maybe... If the chart tags that pink line anytime in the very near future (today), there will be a giant price pull back in the upward direction... if your a 10-15% scalper man...just saying, better than the horses