Clear to see there is the potential for this head and shoulders pattern on LTCUSD to play out. I am looking at it on the 1hr time frame.There is still room to go lower and it will fit the rule.
The key for me here is we have a higher high for the end wave of the head, and a currently holding a higher low compared to the left shoulder. Theses 2 things need to stay true for me to consider this pattern valid. Key level to stay above for the pattern is 149.77, so like I said plenty of wiggle room. Don't get caught chasing.
Per my system I am getting a sell signal here a few hours ago, but the last signal was a weak wave down giving the upper edge to the bulls.I currently hold a small swing position from 158 that I am looking for the 170's to take some profit. Thank you for viewing!
The key for me here is we have a higher high for the end wave of the head, and a currently holding a higher low compared to the left shoulder. Theses 2 things need to stay true for me to consider this pattern valid. Key level to stay above for the pattern is 149.77, so like I said plenty of wiggle room. Don't get caught chasing.
Per my system I am getting a sell signal here a few hours ago, but the last signal was a weak wave down giving the upper edge to the bulls.I currently hold a small swing position from 158 that I am looking for the 170's to take some profit. Thank you for viewing!