A brief idea today, for starters!
I think the chart is rather obvious. In the present descending triangle, we might get either an ABC-pattern or possibly even ABCDE. Nevertheless, I'm going to go for a long position just above $100, provided the ABC-pattern hasn't finished yet. If LTCUSD breaks upwards through the triangle, then that is where I'll take that long position instead. Sure, I could take it now, but I am not a fan of having funds tied up for longer than necessary.
On a even higher degree, this wave 2 (everything from the 19-12 high until now) can be drawn as an ABC-correction, and then divided down further along the degrees. I plan on doing that later, but wanted to start with this highest level idea first.
Disclaimer: You know how it works; I take no responsibility for your trading, and this is not financial advice, et cetera. :-)
I think the chart is rather obvious. In the present descending triangle, we might get either an ABC-pattern or possibly even ABCDE. Nevertheless, I'm going to go for a long position just above $100, provided the ABC-pattern hasn't finished yet. If LTCUSD breaks upwards through the triangle, then that is where I'll take that long position instead. Sure, I could take it now, but I am not a fan of having funds tied up for longer than necessary.
On a even higher degree, this wave 2 (everything from the 19-12 high until now) can be drawn as an ABC-correction, and then divided down further along the degrees. I plan on doing that later, but wanted to start with this highest level idea first.
Disclaimer: You know how it works; I take no responsibility for your trading, and this is not financial advice, et cetera. :-)