LTC Correction Complete 12/22/2017

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
LTC has performed an Elliot ABC Flat ending with a double bottom . Break of the blue resistance trendline will confirm a potential trend change. Two aggressive buys are also posted based on the pattern and i) break of an inside bar (very aggressive) and ii) break of the bar at the low (aggressive). If you want to minimize your risk and get a head start based on the pattern and a signal, then both aggressive trades are good odds to take. If you want to wait for a potential confirmation of a trend change, then wait for the trendline break and the takeout of 308.00. If the pattern low is taken out, then the trade is void. Buy above the specified points when they are exceeded by $10. The stop is shown beneath the pattern low. How far beneath the pattern low is you choice based on your tolerance for risk and your confidence in the pattern.
Order cancelled: Low taken buy trigger.


Hence we broke the resistence line... Has the long-term trend changed?
semasters EspressoDopio
+1 Reply
seems as if you nailed the stop, and we are heading up again
@212mmb, see
Is the low of $240 showing support? No further dip? Thanks :)
Wave C must go below the bottom of Wave A, not end at the bottom of Wave A, invalidating this wave theory. Also, with all of the negative news surrounding the entire crypto market right now, its silly to think correction is over here imo.
Sorry but you're wrong, correction still ongoing 137 - 178 will be reached before it is over.
semasters aformby
@aformby, Sorry, not wrong until triggered and stopped out. No buy trigger yet. In any case, if the triggers are taken, this trade is worth a shot. BTC, the flagship is also at support as well. I am not suggesting that you are may not be in your projection of where the market is going. But I have not signalled a buy yet, only the potential of one.
aformby semasters
@semasters, Volume is king in Crypto and the volume is just not there to follow through on a bounce, that is also true in BTC. Price is already down to 26 in Bitfinex as I write this.
aformby aformby
@aformby, *226
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