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As I type, LTC/USD is at a turning point. It appears that an ABC correction could be in. I previously was looking for a deeper correction in C, but price action has changed my highest probability view at this time.
3 options right now
1. Fakeout and we are looking for a deeper C back into levels I mentioned previously (2nd)
2. Deeper Correction below the 135 (I believe least likely)
3. Looking for this wave 1 to hit the .5 to .764 green fibs (most likely in my view)
Watching the $220 level (black line) based on a previous move that I want to be broken. Going to set alerts and wait for good entry on this if it plays out with scenario 3.
getsome
3 options right now
1. Fakeout and we are looking for a deeper C back into levels I mentioned previously (2nd)
2. Deeper Correction below the 135 (I believe least likely)
3. Looking for this wave 1 to hit the .5 to .764 green fibs (most likely in my view)
Watching the $220 level (black line) based on a previous move that I want to be broken. Going to set alerts and wait for good entry on this if it plays out with scenario 3.
getsome
reubenw
Good analysis, and good call for #3.
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