A symmetrical triangle is a chart formation where the slope of the price’s highs and the slope of the price’s lows converge together to a point where it looks like a triangle. During this formation the market is making lower highs and higher lows, neither the buyers nor the sellers are pushing the price far enough to make a clear trend. LTC is forming a bullish pattern and might clear the upper resistance and continue to grind higher. If we get a clean break, LTC could reach $200 very soon. SL should be placed just under the support. RSI & MACD both in bullish mode, which is strong sign that buyers are in control.
I wanted to buy some LTC last night based on your prediction. Now i'm banging my head against the wall for this lost opportunity. Well...better luck next time for me i guess =)
amussic
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Great explanation, specially for newbies! Thanks for the analysis and keep posting them. I made a lot from your post. Thank you!!!