Hi Everyone, it looks to me like LTC/USD is completing a falling wedge pattern after a large uptrend (bullish combination). This seems like a very good buy zone especially considering that the price has fallen down to, and is hovering, at the 61.8% golden fibonacci retracement ratio. I am a noob so don't trade solely on my advice!!!!!
Buy:
Once a 4hr candle closes above the trend line, probably $235-$240 if it breaks
Significant volume increase. Suggestion is shown with a black line in the volume indicator window.
Target 1:
$365 - Height of wedge
Stop-Loss:
$160 - Apprx level of next lower fib retracement with cushion
Feedback from experienced traders is much appreciated!
Buy:
Once a 4hr candle closes above the trend line, probably $235-$240 if it breaks
Significant volume increase. Suggestion is shown with a black line in the volume indicator window.
Target 1:
$365 - Height of wedge
Stop-Loss:
$160 - Apprx level of next lower fib retracement with cushion
Feedback from experienced traders is much appreciated!
Comment:
I posted an update to this chart here:
Comment:
