LTC continues down. 4-17 - 4-22 target $87

11 apr 2018

This is for an Elliott Wave education review. LTC is attempting to hit the .786 retrace from ATH and after several failed attempts could get there in the next 1-2 weeks. A 5-3-5 pattern appears to be happening to the downside in what appears to me to be the final leg of a very complex correction. The target of $87 isn't much lower and a spike below is also possible. Overall, it is starting to appear to look like a basing/consolidation pattern as the log waves get wider and less violent in height. Volume will be a key indicator as we approach the near term target levels. A move up into the 120-130 range would require another count and would likely invalidate these levels. Keep in mind, this is not financial advice. I am simply a student.

M

12 apr 2018

Nota

I'll need to update the count, but the trend is still down. The price needs to go above 135 to invalidate the count and I looked at the fibs on the move and this current move fits will for the level of retrace. But, I'm a student of the game and am always open to other POVs.