LTC/BTC patterns to watch out for!
Hi all,
Haven't done an LTC chart in ages since it has gone sideways for over 45 days and I trade trend, so naturally, sideways movement are my enemy.
going to keep it short but sweet and sum up all the patterns to watch:
Whenever the price moves up for within the sideways channel several things repeat themselves:
-> move down with a triangle pattern.
-> EMA acts as resistance.
-> the lower it gets to the lower end of the channel the less volatile it becomes.
-> At the lower end, its volatility gets tight before it moves up.
Now here are the dangers of this pattern:
-> When it does move up it's aggressive.
-> The entries are difficult because of the extreme volatility during move-ups.
-> The bigger trend is sideways, that trend can break out either way.
Overall it's a wild ride in this channel but I think the patterns are interesting to watch so for that reason I'm posting this chart!
Hope it helps you.
As always,
Happy Hunting!
Haven't done an LTC chart in ages since it has gone sideways for over 45 days and I trade trend, so naturally, sideways movement are my enemy.
going to keep it short but sweet and sum up all the patterns to watch:
Whenever the price moves up for within the sideways channel several things repeat themselves:
-> move down with a triangle pattern.
-> EMA acts as resistance.
-> the lower it gets to the lower end of the channel the less volatile it becomes.
-> At the lower end, its volatility gets tight before it moves up.
Now here are the dangers of this pattern:
-> When it does move up it's aggressive.
-> The entries are difficult because of the extreme volatility during move-ups.
-> The bigger trend is sideways, that trend can break out either way.
Overall it's a wild ride in this channel but I think the patterns are interesting to watch so for that reason I'm posting this chart!
Hope it helps you.
As always,
Happy Hunting!
Komen:
Keep an eye out for the low volatility spot!