Grinding Our Way Down - LTC
Well the ABCDE wasn't actually an ABCDE from yesterday.... Twas just a regular Symmetrical Triangle, as we can see it broke upwards and not down. I hope you all didn't take a short trade at that level yesterday!! That's why I kept my strategy at a neutral. It wasn't a safe setup in my opinion and I'm all about good risk management.
Good news though! We've finished Wave B of our correction and are grinding our way through wave C. Slowly but surely correcting down to the 0.382 Fibonacci Retracement. Yes, my target still stands. It looks spot on. It's also the 1-1 Extension for wave A which is a very common target for Wave C in a correction.
That's it for now!
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
Good news though! We've finished Wave B of our correction and are grinding our way through wave C. Slowly but surely correcting down to the 0.382 Fibonacci Retracement. Yes, my target still stands. It looks spot on. It's also the 1-1 Extension for wave A which is a very common target for Wave C in a correction.
That's it for now!
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
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