LTC has been leading the market with small and shallow retracements since Jan 2019. What is that screaming? A wave 3 push.
Forecast:
Short Term: waiting for a retracement and complex wave 4 correction before pushing higher. Long Term, the completion of wave 5 which should take us to the 0.5 fib level (around 160) of the Y move before starting the Z of a WXYXZ (confirmation after breaking Dec 2018 lows) or push higher to break ATH.
Trade Status:
Neutral until support by the weekly order block is held and high is broken along with Pitchfork warning line.
Nota
Just a quick update folks. Thus far the weekly order block has been providing strong support, we need to close in the upper 50% of the block to be bullish, At the moment (5.2.19 @ 4pm PST), it is below the 50%. Keep an eye on how we close the week in a few days.
Closing below the order block is bearish. It doesn't invalidate the overall trend but the count will need to be reconsidered as a deeper correction will be in the works. We spent 5 weeks in wave 2, we're four weeks in in this wave 4 correction. Time wise, both wave 2 and 4 tend to last about the same, however their complexity alternates. Thus far, it appears a running flat for wave 2 and a regular flat for wave 4.
Good luck trading.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.