Following yesterday's 10% swing LTCUSD has formed a larger diamond as predicted. If you followed yesterdays idea you caught a 10% swing and now a setup for larger 15-25% swing looks to be forming.
Inside of the diamond are mixed chart signals including a potential descending triangle forming and a potential inverse head and shoulders.
As price action nears the APEX of the diamond, watch for a breakout of the Diamond and confirmation of either a bottom or a half-staff continuation.
Price targets on chart for breakout in either direction.
Breaking up out of the descending triangle before it forms would be a preliminary bullish indicator. A move to the upper trend line would further support the bullish scenario.
Moving down to the bottom trend line of the potential descending triangle would confirm the pattern and support a bearish scenario.
thepatternsite.com/diamondb.html
Inside of the diamond are mixed chart signals including a potential descending triangle forming and a potential inverse head and shoulders.
As price action nears the APEX of the diamond, watch for a breakout of the Diamond and confirmation of either a bottom or a half-staff continuation.
Price targets on chart for breakout in either direction.
Breaking up out of the descending triangle before it forms would be a preliminary bullish indicator. A move to the upper trend line would further support the bullish scenario.
Moving down to the bottom trend line of the potential descending triangle would confirm the pattern and support a bearish scenario.
thepatternsite.com/diamondb.html
註釋
As usual, tight stops are mandatory.手動結束交易
Taking profit. Will buy back in using a stop buy at small loss if we break the resistance. Otherwise, looking for a small pullback to buy in.交易進行
Re-entered after bounce off 5m ema 12 (118.6)註釋
Bull volume is still strong.snag.gy/wag7jz.jpg
註釋
Looks like bulls are accumulating here while letting the price slip a little.snag.gy/z9UpuF.jpg
交易結束:達到停損點
Stopped out.註釋
Indicators on multiple time frames are turning bearish as bear volume has finally shown up. This little bounce here might be short lived.snag.gy/YQeJ0d.jpg
註釋
Two 4k+ LTC buys back to back on GDAX. Expecting a test of the larger diamond tip around 126.91 here. Will review MAs and ICHI clouds for other interim targets.snag.gy/8EJRvI.jpg
註釋
Bull volume still strong. snag.gy/bYAICP.jpgHistorically speaking, LTC pivots on 5 with 2.50 and 7.50 being battlegrounds. If bulls can't take 122.5, I would expect a pullback below 120.
註釋
We're up 9% already but just a reminder, Tight stops are mandatory.交易結束:達到停損點
Stop hit at 123.25. Nice swing trade from 116.25 there for 6% profit. Watching price action here for further direction.交易進行
Needless to say trad active again. Back in at 124.註釋
Watching the 2.50 pivot here for a decision.交易結束:達到停損點
Exited at 122.99. Frustrating. Chop time I suppose.交易進行
Long at 2.5 again交易進行
Long here at 118.20, per usual tight stop.交易結束:達到停損點
Stopped out at 120.交易進行
Re-entered at 119.44交易結束:達到停損點
註釋
Local target on the downside drop is 8.53 from 117.27 to 108.74 if the bulls do not show up here and support 117. On such a down swing, a test of the inner diamond tip red lines at 112 and 109.27 can be expected. Another scenario is continue to chop sideways between the 117.5 and 122.5 range until there is decisive breakout in either direction, making shorting here risking. Likewise, going long is also risk because the bottom can easily fallout from under 117 support.
交易結束:達到停損點
Stopped out at 7.5註釋
Looks like we have a falling wedge after that bounce pointing to 112. Note the price action is based on very low volume, result of asks being pulled on low volume buys -> snag.gy/t7mGpN.jpgs3.amazonaws.com/tradingview/snapshots/y/YDwOhMHG.png
註釋
BTC big picture since we can' forget LTC will trade in tandem....s3.amazonaws.com/tradingview/snapshots/j/JdtDKQcx.png
註釋
Perfect hit... Looking for further consolidation now. s3.amazonaws.com/tradingview/snapshots/3/3SBnZJK7.png
交易進行
Long here at 116.6, scalping the diamond and playing a potential breakout.註釋
Looks like a back test. Will take some time to bleed down. Will be bounces on the way.s3.amazonaws.com/tradingview/snapshots/m/mFN1ok6k.png
註釋
LTC local diamond almost at TP... s3.amazonaws.com/tradingview/snapshots/w/WKeSMMbs.png
Meanwhile, BTC making its way to testing that larger tip...
s3.amazonaws.com/tradingview/snapshots/b/BeatQmWU.png
註釋
112 broke...s3.amazonaws.com/tradingview/snapshots/l/laww99Zb.png
註釋
BTC looking ready to make a decision here...s3.amazonaws.com/tradingview/snapshots/j/jAZvXVzh.png
交易結束:達到停損點
Stopped out at 116.99. small 1.25% profit. BTC has failed to reach its Diamond TP, so pull back expected.交易進行
LONG 116.25, tight stop手動結束交易
Taking profit at 188.8, just before our previous diamond tip. Will buy back in if resistance break.s註釋
Looks LTC bulls and bears will battle over the 118.83 - 119.73 range here.註釋
GDAX buy wall being pulled. Bulls look prepared to give it up as BTC continues its pullback.交易進行
Long 118.86, if nothing else maybe we chop sideways for a few $1 scalp.s註釋
GDAX buy is indicative of a Whale using a bot to cost average in buys.snag.gy/m1HJ7k.jpg
交易結束:達到停損點
Trailing Stop hit at 119.19. LTC Bulls aren't buying here with BTC in a pullback.註釋
Dumped right through that buy wall...snag.gy/cn5OaV.jpg
交易進行
BTC pumping, Long 118.6註釋
Not looking good for BTC, below 7k again.交易結束:達到停損點
註釋
Potential Scalp: BTC and LTC has formed Descending Broadening wedge. Trade rule is to buy the 3rd touch and target Point (A) where the descent began with and 83% success rate. thepatternsite.com/dbw.html.It would appear the 115.5-116.5 area might where this touch might occur.
thepatternsite.com/dbw.html
交易進行
Going to long a small position here because looking at the charts we may have had 3 touches going by candle bodies as opposed to wicks.註釋
Correction: Local Ascending Broadening Wedge, not rising.交易結束:目標達成
AWB Scalp targets hit. Nice 2% gain there.交易進行
LTC long again at 119.1 with tight stop.註釋
Sill over cooked on the 30 and 1 hour TFs. Might play some more chop to pick some extra coin but that risks selling and having to buy back higher. Watching price action.註釋
Tapped out at 118.99. Looking to rebuy lower手動結束交易
Taking profit at 119.99註釋
LTC is forming a local diamond similar to a previous fractal. Will be watching for a breakout.s3.amazonaws.com/tradingview/snapshots/t/t3LJgs9y.png
註釋
Going long at 117.7 Potentially dangerous trade to catch, as a cascade of chart patterns could lead us back down to 110 if we don't get a strong bounce. Cover with a tight stop.交易進行
Long at 119.2手動結束交易
Took profit at 120.10, nearly 3% over last two trades. Should pull back to 118.8 for reentry交易進行
Long at 118.5, potential morning star reversal candlestick on the hourly.手動結束交易
Getting out at same price. Reversal stick being invalidated.交易進行
Long at 118.1交易結束:目標達成
Another profit at 119.73 TP交易進行
Long 119.4, tight stop.手動結束交易
Unexpected dump. exited on bounce back to 119.4註釋
Watching this hourly close for confirmation.註釋
Correction: Gravestone, not graveyard.註釋
LTC and BTC TP1 hit.LTC has broke the diamond TP 126.91. On upward continuation, it should find resistance at 130.02 as it moves toward the 133.23 inverse head and shoulders target and on toward the major diamond target at 144.55
BTC has hit its local diamond TP at 7420.
BTC is now inside a rising wedge and if it continues up should move toward the inverse head and shoulders target price of 7645. On upward continuation it should move toward its diamond price at 8005.
交易結束:達到停損點
Stopped out hear at 130.12.註釋
15.5% profit on this swing here. Even more with scalping along the way. Will watch price action here. I may close out this idea and start a new one.交易結束:目標達成
Looks like bulls might keep going here.Going to watch price action and bear volume. Previous resistance points of 125.8 and 126.91 might be good re-entry targets if selling persists.交易進行
Scaling in buys between 128.51 and 125註釋
Moved buys under 127 up and scaling between 127 and 129.註釋
Correction: Scaling between 127 and 129.5註釋
Bulls got aggressive. Normally ABW gets three touches.註釋
Larger Ascending Broadening wedge forming. If it pulls back it should touch the lower trend line a 3rd time and should move back to and break the point where it started at 131.35, and should move on to the inverse head and shoulders target of 133.2. Bulls however are being aggressive and bears have yet to unload. This is crypto though and anything can happen.註釋
Took profit at 137.5手動結束交易
交易進行
Reentered at 135. Tight stop in case selling continues.註釋
Updating stop to market price (136.37)交易結束:達到停損點
註釋
Can't say for sure, but this is feeling a bit toppy. Protecting profits here.交易進行
Scaling buys between 127-132.5交易結束:達到停損點
Trailing stop hit.交易結束:達到停損點
Trailing stop hit at 134.70交易進行
Buy back at 134.交易結束:達到停損點
Trailing stop hit at 134.89註釋
Buy back at 134.05註釋
LTC being held up by BTC. Another chance to by a dip.交易進行
BTC bouncing, long with tight stop at 133.5註釋
Quite possible just a little sideways chop.交易進行
Scaling in buys between 129 and 127. BTC shouldn't have much further down.手動結束交易
Took profits at 130.14. Might bounce further but knowing LTC likes to retest lows, play it safe and catch the retest交易進行
Going long at 128. Tight stop, sell-off may not be over.註釋
Scaling addition buys between 126.91 and 128. Expecting bitcoin to bounce between 7237.2 and 7250.註釋
Correction. Expecting BTC bounce between 7237.2 and 7269交易結束:達到停損點
Stopped out 130.98註釋
GDAX hasa little buy wall at 128.75 so a bounce there to could form this diamond.註釋
How low will she go... hitting 1.618 fib extension, but diamond target says 110.03 is the target.s3.amazonaws.com/tradingview/snapshots/o/o0bFfsFT.png
註釋
Expecting a little dead cat and sideways chop here before more down, as LTC is hitting the 1.618 extension. Watching price action for a potential bottoming pattern though. Could be an opportunity for a scalp.交易進行
Going long at 114.5, for a scalp.交易結束:達到停損點
Stopped out at 115.1免責聲明
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