Crypto_Ed

$LTCUSD going for next leg up

Long
BITFINEX:LTCUSD   Litecoin / U.S. Dollar
5062 views
65
Long time ago that I updated my LTCUSD chart, sorry for that.... I totally forgot maybe because I check this pair 4x a week in our webinars.

I'm looking at follwing pattern: a possible 5 legs up wave. We just finished leg 2 on fibo 50% and starting next leg up towards the blue box.

Pretty simple set up, most of times they work the best.

Less is more.

SL below blue trendline





BITTREX:LTCUSD
Comment: Set up failed, SL got hit after dropping out of the channel.
Looks like LTC is making an ABC correction, possible bounce area on chart
Comment: LTC is back on its way up and I will make new chart with slightly changed pattern
Comment: Another great winner in our group.
Target reached.

Comments

Hey Ed, would you please analyze SAN and EOS ?
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Curiosity, is (3)-(4) parallel to (1)-(2) ? Always ? In general ? Or only in this case ? Thanks for your answer.
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Hey Ed, what about now... it seens like LTC is going thru your blue trendline... im betting that we will reach the blue box sometime. What do you think? Thanks in advance for your ideas!
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I hope you're right, but with my limited understanding it looks to me as if ltc is losing momentum. I'm expecting prices to dip or plateu in around 12 hours or so. Let's check back tomorrow and find out! :p
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:(
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All ltc charts have been failed recently
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Hi @Crypto_Ed, now it has broken the channel downwards I interested in your current view on LTC. Ready to share?
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sending thanks for the good analysis as always!
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thank you for the great analysis
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@Crypto_Ed You are one of my favorite traders. I never lost money using ur advice which is always clear and simple!! I am entering this LTC trade and was wondering where I should put my stop loss? Once it breaks the channel downwards? thx
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