SUMMARY
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So, Litecoin (LTC) is showing a twofer! A downward pointing bullish wedge and a bull flag that appears to be complete! When consecutive bullish patterns show, the strength and distance of the probable breakout increases that much more. the below chart shows that the final red E wave on the bull flag pattern could be placed. This means that the ABCDE sequence has high probability of completion. Now, check out the MACD...look familiar? The symmetrical triangle pattern is forming well within two contracting lines. The blue ABCDE for this are also complete. So, what's next? Do you think this is the time to be taking selling or buying actions?
On the high probability of a breakout, the below chart outlines a potential price pathway in a five wave impulse upward.
Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.
Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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