The overall size and length of the D2 wedge can/will be modified as the market progresses organically, but the general timeline and overall ranges can help with getting an idea of what appears to be going on with LTC, based on past patterns (outlined in this chart). I had been calling 153 the potential bottom for 1-2 weeks, but I wasn't taking into consideration that the market is organic at each wedge area. So the market can and will move up and down trying to find the most liquidity or soak up as much liquidity as it can. Warning: (I could see/think that going sub-140 is possible to take out stop losses, just below the nominal number of 140). Typically LTC likes to take out stops $1,$2,$3.5 above or below areas of resistance and support, and/or nearby nominal numbers, as that is where common stops would be set, so set your stops accordingly to get hit or not hit.
The patterns shown here, would lend itself to a rise after the D2 Wedge, that said.....what if it goes downward to retest 106 and double bottom there, so keep that in mind.
My opinion.
The patterns shown here, would lend itself to a rise after the D2 Wedge, that said.....what if it goes downward to retest 106 and double bottom there, so keep that in mind.
My opinion.
Trade closed: target reached:
LTC is at the second arrow of the D2 wedge.
Remember LTC has to break 153..or better 153.5 to start banging hard to say 160....watch your stops here. LTC won't mind hitting 153 and dropping through 150 if it doesn't break 153. My opinion.
Remember LTC has to break 153..or better 153.5 to start banging hard to say 160....watch your stops here. LTC won't mind hitting 153 and dropping through 150 if it doesn't break 153. My opinion.