As I am learning some trading indicators, I would to share you my point of view for the short LTCUSD. I noticed a validated inverse H&S pattern, so LTCUSD could test the $170 support of the bear channel. The RSI seems to work towards an increase trend, since we already had 3 oversold before. If we break that support, LTCUSD could recover $180 tomorrow.
What do you think about that short analysis, is it enough to justify such forecast ?
My english is not the best, but think it is enough to be understood.
Thank you and have a great trade ahead.
The chart with more details :
What do you think about that short analysis, is it enough to justify such forecast ?
My english is not the best, but think it is enough to be understood.
Thank you and have a great trade ahead.
The chart with more details :
Trade closed: target reached
Trade closed: target reached:
LTC reached $170 but failed to break the support !
Bull flag :
As we can see on the updated chart analysis. We have a bull flag formed and due to break in few hours.
I really think our right shoulder will be formed as we should have a bullish trend coming soon. To confirm that possible move, the OBV is trapped in a descending triangle and will also break soon, the volume should increase.
BULL FLAG + OBV BREAKOUT, our $170-$180 target could be reached tomorrow.
Comment and share your point of view, either you think the contrary or not, we are here to learn ! This is only an educational analysis and not an advice to invest.
Have a nice day !