Following yesterday's 10% swing LTCUSD has formed a larger diamond as predicted. If you followed yesterdays idea you caught a 10% swing and now a setup for larger 15-25% swing looks to be forming.
Inside of the diamond are mixed chart signals including a potential descending triangle forming and a potential inverse head and shoulders.
As price action nears the APEX of the diamond, watch for a breakout of the Diamond and confirmation of either a bottom or a half-staff continuation.
Price targets on chart for breakout in either direction.
Breaking up out of the descending triangle before it forms would be a preliminary bullish indicator. A move to the upper trend line would further support the bullish scenario.
Moving down to the bottom trend line of the potential descending triangle would confirm the pattern and support a bearish scenario.
thepatternsite.com/diamondb.html
Inside of the diamond are mixed chart signals including a potential descending triangle forming and a potential inverse head and shoulders.
As price action nears the APEX of the diamond, watch for a breakout of the Diamond and confirmation of either a bottom or a half-staff continuation.
Price targets on chart for breakout in either direction.
Breaking up out of the descending triangle before it forms would be a preliminary bullish indicator. A move to the upper trend line would further support the bullish scenario.
Moving down to the bottom trend line of the potential descending triangle would confirm the pattern and support a bearish scenario.
thepatternsite.com/diamondb.html
코멘트:
The downward resistance trend line the descending triangle has broke, giving more support to a potential bullish scenario.
액티브 트레이드:
Playing some scalps here. Long position opened at 116.8. Expecting a test of 119.73 and/or the diamond trend line at a minimum.
코멘트:
As usual, tight stops are mandatory.
코멘트:
Diamond trendline being tested.
코멘트:
Broke diamond trendline, trying to test the previous diamond tip at 119.73. Pullback possible here.
코멘트:
Bulls took the tip. Decision time for a pullback or upward continuation.
코멘트:
Little back and forth over the tip resistance...
매매 수동청산:
Taking profit. Will buy back in using a stop buy at small loss if we break the resistance. Otherwise, looking for a small pullback to buy in.
액티브 트레이드:
Re-entered after bounce off 5m ema 12 (118.6)
코멘트:
Nice bounce. Trying to break 120 resistance now.
코멘트:
코멘트:
거래청산: 스탑 닿음:
Stopped out.
코멘트:
Indicators on multiple time frames are turning bearish as bear volume has finally shown up. This little bounce here might be short lived.
snag.gy/YQeJ0d.jpg
snag.gy/YQeJ0d.jpg
액티브 트레이드:
Testing 120 again, might take profit here for another 3% gain.
코멘트:
Breakout...
코멘트:
Two 4k+ LTC buys back to back on GDAX. Expecting a test of the larger diamond tip around 126.91 here. Will review MAs and ICHI clouds for other interim targets.
snag.gy/8EJRvI.jpg
snag.gy/8EJRvI.jpg
코멘트:
Currently hitting 26ema on the 2 hr.
Have ICHI could resistance on the 30 just short of 125.
Past resistance in the chart. Otherwise, should be all clear to test the larger diamond upper tip.
Have ICHI could resistance on the 30 just short of 125.
Past resistance in the chart. Otherwise, should be all clear to test the larger diamond upper tip.
코멘트:
Bull volume still strong. snag.gy/bYAICP.jpg
Historically speaking, LTC pivots on 5 with 2.50 and 7.50 being battlegrounds. If bulls can't take 122.5, I would expect a pullback below 120.
Historically speaking, LTC pivots on 5 with 2.50 and 7.50 being battlegrounds. If bulls can't take 122.5, I would expect a pullback below 120.
코멘트:
We're up 9% already but just a reminder, Tight stops are mandatory.
코멘트:
Battling for the critical 2.50 pivot now.
코멘트:
Bears rejected 2.50 . Not liking the potential gravestone on the 30. Really a horrible candle by itself. However, next candle could confirm trend reversal.
코멘트:
Gravestone turned into a potential evening star. I might to take profit on the next pump here and look buy back in below 120.
코멘트:
Back to an doji. Trade still active watching price action to see if bulls will continue up.
코멘트:
Little pump... this candle is fine. Indicates upward continuation.
코멘트:
Bulls pushing toward 2.50 again...
코멘트:
2.50 taken.
코멘트:
15 and 30 minute indicators show pump is getting overheated. 1 hour has a little room to run. Following with a tight trailing stop to take profit here.
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거래청산: 스탑 닿음:
Stop hit at 123.25. Nice swing trade from 116.25 there for 6% profit. Watching price action here for further direction.
코멘트:
Bad timing... Look at that pump...
액티브 트레이드:
Needless to say trad active again. Back in at 124.
거래청산: 스탑 닿음:
4 dojis in a row on the 15. Clearly undecided. Make your own decision here... Personally closing out for a small loss at 3.5
코멘트:
Watching the 2.50 pivot here for a decision.
코멘트:
Hit right between the 30 min ICHI cloud target and the diamond tip. Bulls gave up the 2.50 pivot.
액티브 트레이드:
Immediately taken back. Long 122.5
거래청산: 스탑 닿음:
Exited at 122.99. Frustrating. Chop time I suppose.
액티브 트레이드:
Long at 2.5 again
거래청산: 타겟 닿음:
Exiting here.
액티브 트레이드:
Long here at 118.20, per usual tight stop.
코멘트:
Up $2 so far...
거래청산: 스탑 닿음:
Stopped out at 120.
액티브 트레이드:
Re-entered at 119.44
거래청산: 스탑 닿음
코멘트:
This could lose ground quite fast.
코멘트:
Local target on the downside drop is 8.53 from 117.27 to 108.74 if the bulls do not show up here and support 117. On such a down swing, a test of the inner diamond tip red lines at 112 and 109.27 can be expected.
Another scenario is continue to chop sideways between the 117.5 and 122.5 range until there is decisive breakout in either direction, making shorting here risking. Likewise, going long is also risk because the bottom can easily fallout from under 117 support.
Another scenario is continue to chop sideways between the 117.5 and 122.5 range until there is decisive breakout in either direction, making shorting here risking. Likewise, going long is also risk because the bottom can easily fallout from under 117 support.
코멘트:
Likely scenarios....
액티브 트레이드:
Going to make risky play and go long at 117.10 to play a back test of that trend line. Tight stop required because bottom can quickly fall out.
I suspect I 'll get stopped out.
I suspect I 'll get stopped out.
거래청산: 스탑 닿음:
Stopped out at 7.5
코멘트:
Didn't realize, but visible on the 1 minute, already back tested that trend line once.
코멘트:
LTC has now consolidated into a larger diamond. Price still fell out the bottom and TPs from the original diamond remain unchanged. We could be seeing throwback or pullback, but breaking the tip still remains final confirmation.
코멘트:
Looks like we have a falling wedge after that bounce pointing to 112. Note the price action is based on very low volume, result of asks being pulled on low volume buys -> snag.gy/t7mGpN.jpg
s3.amazonaws.com/tra...shots/y/YDwOhMHG.png
s3.amazonaws.com/tra...shots/y/YDwOhMHG.png
코멘트:
BTC big picture since we can' forget LTC will trade in tandem....
s3.amazonaws.com/tra...shots/j/JdtDKQcx.png
s3.amazonaws.com/tra...shots/j/JdtDKQcx.png
코멘트:
LTC local diamond could be forming on the 15.
코멘트:
Scalp targets on local diamond breakout, if it forms.
코멘트:
LTC getting closer to forming a definitive local diamond. Still could be a few hours away before we see significant local price action.
코멘트:
코멘트:
Price bouncing as expected, Maybe short lived. Waiting on breakout confirmation.
액티브 트레이드:
Long here at 116.6, scalping the diamond and playing a potential breakout.
코멘트:
Traded sideways on the 15 and the 30 minute. Not exactly the breakout needed....
거래청산: 스탑 닿음:
코멘트:
And price bounces back $1 on no volume. Testing trendline again.
코멘트:
Obvious how that would turn out...
코멘트:
LTC should testing that tip around 115.54. If it breaks 112 inbound...
코멘트:
Testing the tip. Nice size buy wall between it and 115.... Let's see how this turns out.
코멘트:
LTC Tip broke, Bears chewing away at buy wall.
In the mean time, BTC has also fell out the bottom of its larger diamond and should be heading down to test its tip
In the mean time, BTC has also fell out the bottom of its larger diamond and should be heading down to test its tip
코멘트:
Looks like a back test. Will take some time to bleed down. Will be bounces on the way.
s3.amazonaws.com/tra...shots/m/mFN1ok6k.png
s3.amazonaws.com/tra...shots/m/mFN1ok6k.png
코멘트:
LTC local diamond almost at TP...
s3.amazonaws.com/tra...shots/w/WKeSMMbs.png
Meanwhile, BTC making its way to testing that larger tip...
s3.amazonaws.com/tra...shots/b/BeatQmWU.png
s3.amazonaws.com/tra...shots/w/WKeSMMbs.png
Meanwhile, BTC making its way to testing that larger tip...
s3.amazonaws.com/tra...shots/b/BeatQmWU.png
코멘트:
LTC local Diamond price target hit. Watching price action.
코멘트:
코멘트:
LTC testing 112 target...
코멘트:
코멘트:
So far just a wick and bounce but could be from shorts covering.
코멘트:
코멘트:
Watch for a breakout up on BTC,hitting the red line would be a nice resistance point and could form a nasty local head and shoulders.
코멘트:
LTC appears to have fell out of bull pennant is back testing now.
코멘트:
BTC... 15 min:
And in better detail..
And in better detail..
액티브 트레이드:
LTC long 115.5, with tight top. BTC breaking out of diamond upward...
거래청산: 스탑 닿음:
Stopped out at 116.99. small 1.25% profit. BTC has failed to reach its Diamond TP, so pull back expected.
액티브 트레이드:
LONG 116.25, tight stop
매매 수동청산:
Taking profit at 188.8, just before our previous diamond tip. Will buy back in if resistance break.s
코멘트:
LTC TP here should be over 120. But we have resistance tips at 188.83 and at 191.71. Expect a pullback.
코멘트:
Perfect hit. Not sure how much pullback we will see, Bulls are buying aggressively. Rather lock in 2.25% profit instead of taking the risk. Would not be surprised to see this continue up though.
코멘트:
Bulls broke through first resistance after 5 minutes of trying. Should hit 1 hour cloud resistance, then larger diamond resistance over the next dollar.
Putting in a lower limit order to catch a dump. Will buy back if we break trough the resistance.
Putting in a lower limit order to catch a dump. Will buy back if we break trough the resistance.
코멘트:
Bulls put up a very large buy wall (8K) on gdax starting 188.83. Don't think they plan on giving it up.
Hitting second TP now at 119.73
Hitting second TP now at 119.73
코멘트:
LTC Dump right on target as expected. Expected it to be larger....
BTC also maybe putting in a rounded top short of 7k after breaking out if its bull flag.
BTC also maybe putting in a rounded top short of 7k after breaking out if its bull flag.
코멘트:
Looks LTC bulls and bears will battle over the 118.83 - 119.73 range here.
코멘트:
GDAX buy wall being pulled. Bulls look prepared to give it up as BTC continues its pullback.
코멘트:
Bears dumping into the buy wall. Keeps getting lowered and put back. Appears bulls will support it to an extent and imagine they will let it go if sell volume gets to high. Contemplating buying back in here with a tight stop.
액티브 트레이드:
Long 118.86, if nothing else maybe we chop sideways for a few $1 scalp.s
코멘트:
거래청산: 스탑 닿음:
Trailing Stop hit at 119.19. LTC Bulls aren't buying here with BTC in a pullback.
코멘트:
액티브 트레이드:
BTC pumping, Long 118.6
코멘트:
Really need BTC to hold 7k here...
코멘트:
BTC Back above 7k... needs to first hold and then start climbing toward the 7250 diamond Tip and LTCwill start running...
코멘트:
Not looking good for BTC, below 7k again.
거래청산: 스탑 닿음
코멘트:
Red candle on the hourly here would have bearish implications. LTC needs to close it green.
코멘트:
LTC just made the hourly candle pattern bulls didn't want to see.
코멘트:
Potential Scalp: BTC and LTC has formed Descending Broadening wedge. Trade rule is to buy the 3rd touch and target Point (A) where the descent began with and 83% success rate. thepatternsite.com/dbw.html.
It would appear the 115.5-116.5 area might where this touch might occur.
thepatternsite.com/dbw.html
It would appear the 115.5-116.5 area might where this touch might occur.
thepatternsite.com/dbw.html
액티브 트레이드:
Going to long a small position here because looking at the charts we may have had 3 touches going by candle bodies as opposed to wicks.
거래청산: 타겟 닿음:
Target hit. 1% gain but it adds up.
코멘트:
LTC has fell out of a local rising wedge, and is heading for the neckline of a local head and shoulders. TP on the HnS is 113.7 but previous support at 115 should hold. It is also possible that the neckline holds. Possible bounce areas highlighted.
코멘트:
Correction: Local Ascending Broadening Wedge, not rising.
코멘트:
If LTC breaks down this scenario could playout....
거래청산: 타겟 닿음:
AWB Scalp targets hit. Nice 2% gain there.
액티브 트레이드:
LTC long again at 119.1 with tight stop.
코멘트:
Looking for a breakout on an ihs. TP would be 129.5, but we have a few resistance points along the way.
코멘트:
BTC is currently bull flagging inside a diamond with with an upper TP of 7420.1 and a lower tp of 6558.1.
Additional BTC has broke out of an inverse head and shoulders with a target price 7645. Past targets and resistance still in place.
Additional BTC has broke out of an inverse head and shoulders with a target price 7645. Past targets and resistance still in place.
매매 수동청산:
Locking int a 2% profit here. LTC has formed a rising wedge and indicators say its time for a little bit of break. Will Target an MA to buy back in cheaper.
코멘트:
Good timing. Hitting that wedge line. Would like to see it fall out here to fell safer about going long though....
액티브 트레이드:
Hitting the 15 ema 26 at 191.51 right now which is a good bounce point. Ideally, a pullback to the black trend line. But would rather take the $2 increase instead of risking it. However, we can pull back further.
코멘트:
Sill over cooked on the 30 and 1 hour TFs. Might play some more chop to pick some extra coin but that risks selling and having to buy back higher. Watching price action.
매매 수동청산:
Took a little under 1% profit. Hourly candle doesn't look good.
코멘트:
Down it goes. Gonna let this cool off for a bit here, indicators over heated and look for potential support for reentry. 118.83 or low 119 might do the trick depending on how aggressive the selling is or isn't.
액티브 트레이드:
Going long at 118.8 with tight stop after bouncing off the 1 hour 12 ema.
코멘트:
Tapped out at 118.99. Looking to rebuy lower
매매 수동청산:
Taking profit at 119.99
코멘트:
LTC is forming a local diamond similar to a previous fractal. Will be watching for a breakout.
s3.amazonaws.com/tra...shots/t/t3LJgs9y.png
s3.amazonaws.com/tra...shots/t/t3LJgs9y.png
코멘트:
LTC bouncing off diamond trendline. Still risky to trade. Playing that bounce, use a tight stop
코멘트:
LTC nearing first decision here...
코멘트:
LTC has made first decision... Down
코멘트:
LTC Potential falling wedge also broke.
코멘트:
If this holds the trendline would establish an ideal uptrend channel.It is competing against the diamond and local head and shoulders the price just fell from.
코멘트:
Failed to hold. Chart pattern price target is 115.78. Resistance points along the way along with diamond tip right below it.
코멘트:
Going long at 117.7 Potentially dangerous trade to catch, as a cascade of chart patterns could lead us back down to 110 if we don't get a strong bounce. Cover with a tight stop.
코멘트:
Took profit at 119.73 TP. Buying back in lower.
액티브 트레이드:
Long at 119.2
매매 수동청산:
Took profit at 120.10, nearly 3% over last two trades. Should pull back to 118.8 for reentry
액티브 트레이드:
Long at 118.5, potential morning star reversal candlestick on the hourly.
매매 수동청산:
Getting out at same price. Reversal stick being invalidated.
액티브 트레이드:
Long at 118.1
거래청산: 타겟 닿음:
Another profit at 119.73 TP
액티브 트레이드:
Long 119.4, tight stop.
매매 수동청산:
Unexpected dump. exited on bounce back to 119.4
코멘트:
Possible Dump incoming...
LTC at possible top of right shoulder of an HNS. A few cents down would make a graveyard or a possible evening star on the hourly
Mean while, BTC has a potential graveyard on the 30 minute, which may also double on the hourly and maybe completing a triple top.
LTC at possible top of right shoulder of an HNS. A few cents down would make a graveyard or a possible evening star on the hourly
Mean while, BTC has a potential graveyard on the 30 minute, which may also double on the hourly and maybe completing a triple top.
코멘트:
Watching this hourly close for confirmation.
코멘트:
Correction: Gravestone, not graveyard.
액티브 트레이드:
LTC long... LTC should be a hold here as long as it stays above this trendline. Breaking it would imply a TP of 110.
코멘트:
If LTC breaks this trend line it will form an ascending broadening wedge.
코멘트:
LTC and BTC TP1 hit.
LTC has broke the diamond TP 126.91. On upward continuation, it should find resistance at 130.02 as it moves toward the 133.23 inverse head and shoulders target and on toward the major diamond target at 144.55
BTC has hit its local diamond TP at 7420.
BTC is now inside a rising wedge and if it continues up should move toward the inverse head and shoulders target price of 7645. On upward continuation it should move toward its diamond price at 8005.
LTC has broke the diamond TP 126.91. On upward continuation, it should find resistance at 130.02 as it moves toward the 133.23 inverse head and shoulders target and on toward the major diamond target at 144.55
BTC has hit its local diamond TP at 7420.
BTC is now inside a rising wedge and if it continues up should move toward the inverse head and shoulders target price of 7645. On upward continuation it should move toward its diamond price at 8005.
코멘트:
Upper channel trendline hit. Bulls could take a break here.
코멘트:
130 broke... On to inverse head and shoulders target.
거래청산: 스탑 닿음:
Stopped out hear at 130.12.
코멘트:
15.5% profit on this swing here. Even more with scalping along the way. Will watch price action here. I may close out this idea and start a new one.
거래청산: 타겟 닿음:
Looks like bulls might keep going here.Going to watch price action and bear volume. Previous resistance points of 125.8 and 126.91 might be good re-entry targets if selling persists.
액티브 트레이드:
Scaling in buys between 128.51 and 125
코멘트:
Looks like a local falling wedge has formed pointing back to the 126.91 previous resistance point. Typically, these will break up between 50-80% of the way through the pattern.
코멘트:
Moved buys under 127 up and scaling between 127 and 129.
코멘트:
Correction: Scaling between 127 and 129.5
코멘트:
Larger falling wedge has formed, along with a ascending broadening wedge which indicates should eventually move back to at least 130.5. Unless the bulls or bears get aggressive here, this would be the expected price action.
코멘트:
Bulls got aggressive. Normally ABW gets three touches.
코멘트:
Larger Ascending Broadening wedge forming. If it pulls back it should touch the lower trend line a 3rd time and should move back to and break the point where it started at 131.35, and should move on to the inverse head and shoulders target of 133.2. Bulls however are being aggressive and bears have yet to unload. This is crypto though and anything can happen.
코멘트:
Bulls kept going. Be on the look out for the following potential scenario: Inverse head and shoulders target hits, price pulls back and forms a diamond.
거래청산: 타겟 닿음:
Took profit at 133.2. Watching price action for re-entry.
코멘트:
No diamond, just kept going. Next TP is 137.12, with one falling at 138.14. However order book suggests there will be heavy resistance getting there.
코멘트:
Psychological resistance at 135 broke. Testing the 137-138 resistance now. Upon breaking should move to the 144.55 target.
코멘트:
Took profit at 137.5
매매 수동청산
액티브 트레이드:
Reentered at 135. Tight stop in case selling continues.
코멘트:
Updating stop to market price (136.37)
거래청산: 스탑 닿음
코멘트:
Can't say for sure, but this is feeling a bit toppy. Protecting profits here.
코멘트:
Dump avoided.
액티브 트레이드:
Scaling buys between 127-132.5
거래청산: 스탑 닿음:
Trailing stop hit.
액티브 트레이드:
Long here at 131.8 with tight stop. A retest of the high should be in play. Head and should looks to be rejected buy we still need to make sure it doesn't bust.
거래청산: 스탑 닿음:
Trailing stop hit at 134.70
액티브 트레이드:
Buy back at 134.
거래청산: 스탑 닿음:
Trailing stop hit at 134.89
코멘트:
Buy back at 134.05
코멘트:
LTC being held up by BTC. Another chance to by a dip.
액티브 트레이드:
BTC wicking below its rising wedge trendline. Expect a pullback here if breaks.
매매 수동청산:
Closing out at same price. Gong to wait on BTC here...
액티브 트레이드:
BTC bouncing, long with tight stop at 133.5
매매 수동청산:
And there goes bitcoin again. Closing out before LTC follows.
코멘트:
BTC fell out of the rising wedge to form a larger rising wedge. Looks like it still needs a little more down or sideways consolidation to establish an uptrend channel with parallel resistance lines.
코멘트:
Would scale in buys here but BTC still not quite there yet.
코멘트:
Quite possible just a little sideways chop.
액티브 트레이드:
Scaling in buys between 129 and 127. BTC shouldn't have much further down.
매매 수동청산:
Took profits at 130.14. Might bounce further but knowing LTC likes to retest lows, play it safe and catch the retest
액티브 트레이드:
Going long at 128. Tight stop, sell-off may not be over.
코멘트:
Scaling addition buys between 126.91 and 128. Expecting bitcoin to bounce between 7237.2 and 7250.
코멘트:
Correction. Expecting BTC bounce between 7237.2 and 7269
코멘트:
BTC bouncing. If it doesn't hold, i'll exit.
매매 수동청산:
BTC dumping, decent size sells too.
코멘트:
BTC bouncing again, LTC formed a falling wedge. Watching for a breakout to go long.
코멘트:
LTC long 128.5 on breakout.
거래청산: 스탑 닿음:
Stopped out 130.98
코멘트:
Looking for a diamond to form.
코멘트:
Price targets for a breakout if a diamond forms.
코멘트:
Price targets for a breakout if a diamond forms, with price lines.
코멘트:
GDAX hasa little buy wall at 128.75 so a bounce there to could form this diamond.
코멘트:
LTC and BTC on diamond watch.
코멘트:
Fell out the bottom. Watching for a potential partial decline. Breaking 115.5 would imply continuation to 110.03.
코멘트:
How low will she go... hitting 1.618 fib extension, but diamond target says 110.03 is the target.
s3.amazonaws.com/tra...shots/o/o0bFfsFT.png
s3.amazonaws.com/tra...shots/o/o0bFfsFT.png
코멘트:
Expecting a little dead cat and sideways chop here before more down, as LTC is hitting the 1.618 extension. Watching price action for a potential bottoming pattern though. Could be an opportunity for a scalp.
액티브 트레이드:
Going long at 114.5, for a scalp.
거래청산: 스탑 닿음:
Stopped out at 115.1
코멘트:
Trying to put in a local bottom here and price target a few dollar short of anticipated but the Jan. 20th pre-crash fractal overlaid on the current hourly could indicate we have more down here.
코멘트:
Another view with Highs and lows better matched. Could get really nasty if this fractal plays out again.
