yarr

Litecoin - Hints for a reversal. Inverse Head & Shoulders.

BINANCE:LTCUSDT   Litecoin / TetherUS
The market is showing an inverse head & shoulders pattern on the 12-hour timeframe. This is positive sign and hints for a possible reversal on the market. Volume is crucial here as it should continue expanding towards the neckline and give confident for the possible breakout.

There are two major confirmations to look for when a market is starting form an inverse head & shoulders pattern. 1) There should be a large volume expansion from bottom of the head towards the neckline (in this case it was correct) 2) Volume should start expanding from bottom of the right shoulder towards the neckline (yet unclear).
These are just two major things that are giving validity and reliability for this pattern.

Trade careful out there!

If you come up with any questions feel free to ask!

Things to Remember:
  • Stop-loss orders are strongly recommended.
  • Fomos likely lead to a loss.
  • Do your homework before investing or trading.

DISCLAIMER:
Please be aware this is not financial advice. You are responsible for your trading and investing decisions. It is highly recommended to do your own research before investing in anything.

Yarr
Comment: breaking upwards from the I H&S pattern

Comments

Good post. My only recommendation would be to chart volume on a usd exchange. Binance volume is unreliable.
Reply
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