Snuby3

Snuby3

I posted this already but it was posted as a private idea and I wanted it to be public. I see an abcde correction triangle with a slight downward slope. The resistance line of the triangle was shared by moving averages on most of the time frames, looks like it is breaking out this morning. Will be interesting to see if we move up from here, I'm in @ .25

Snuby3 Updated 

There is a large descending triangle formation with resistance along the recent downtrend trendline, extending all the way from 55.88. Now is a good time to be watching, as price action has been getting squeezed into the apex of the formation.

Snuby3 Updated 

So I have been talking about this already in my last idea, but I figured I'd start a new one with this as the cover page. I think LTC has a falling wedge formation on the daily chart, ABCDE, having just been rejected from the downtrend line at D. We haven't closed a candle at 100$ yet on the daily chart. I think we need to see a candle close on the daily chart...

Snuby3 Updated 

Current rising wedge formation has very good credence. Heavy resistance line just overhead in the 145 area from a long term trend line that stretches across the 100 double bottom. A break down from here would result in a retest of the lower long term trendline. I believe LTC is now testing the top of the actual channel or long term triangle(blue line) and if...

Snuby3 Updated 

I see a possible cup and handle breakout on LTC 4HR chart (green arrow) target of the cup and handle would be 155ish, which would test the low from March 15(purple arrow) and the underside of the maroon trendline broken previously. First major resistance would be the 1200 EMA, coinciding in that area with the top of the long term downtrend channel (black line).

Snuby3 Updated 

I already updated this on my last idea, but since price action has broken below the EMAs again and retested the bottom trendline of my triangle (blue line), this outcome seems more likely to me right now. I saw a 2014 BTC and LTC correlation photo that made it look like we should see a double bottom right here to me. Also, this Head and shoulders pattern gives...

Snuby3 Updated 

If LTC price action breaks the black line and closes a 4 hour candle below 173$, then the targets 140 and 150 will be in play. Until then, if LTC can maintain this current upward channel, we could see the end of the correction and a test of 217 and maybe 230.

Snuby3 Updated 

Now after seeing a bounce from 160 level where correction could potentially have come to an end, I have been watching this similar uptrend channel to the last bounce from the last wave down, which turned into a bearish triangle after giving us a look at an inverse head and shoulders pattern. Now we have a repeat for the most part in this bounce. Looks like an...

Snuby3 Updated 

Looking at the LTC chart.. found this bull flag channel in blue. falls on the 160 area. equal retracement to the first wave down is 160$. more and more arrows lining up at 160$. its like forecasting a hurricane and the closer it gets to land the more we can say where it will hit.

Snuby3

chart should be pretty much self explanatory. this way, or that way.

Snuby3

I had updated this before already in my last idea, but decided to start a new idea with a more fitting title. I have been honestly leaning toward this potential third wave of correction, which makes sense looking at the only partial retracement of the last rally, and missing "c" wave from potential three wave EW correction. forming s potential H&S targeting...

Snuby3 Updated 

I think LTC has just made it's way out of the downtrend channel. I've seen a lot of charts that had LTC out of the channel already, and had the channel as more of a wedge. This parallel channel makes good sense to me, and price action responds beautifully to it. LTC broke through once before but was quickly slammed back in, now looks to have found support on the line.