LTC Slow/Complex Recovery Trading Plan (Bear Market Scenario)
This plan is based on the scenario that we are still in the middle of a long drawn out bear market. I hope we aren't, but in case we are, I wanted to come up with a plan.
A true correction, corrects things that are wrong with the chart. The main thing that stands out to me is that the $110-$185 range desperately needs volume back filling in order to provide a stable support for future growth. LTC just shot through that range so quick leaving a massive volume gap. This plan is based on correcting that.
The green boxes are buy targets and the red boxes are sell targets. I've arrived at these buy/sell areas using other indicators but didn't want to clutter the chart so I left them out.
In the event LTC doesn't just rocket over $215 in the next few days I'll use this plan as a starting point.
A true correction, corrects things that are wrong with the chart. The main thing that stands out to me is that the $110-$185 range desperately needs volume back filling in order to provide a stable support for future growth. LTC just shot through that range so quick leaving a massive volume gap. This plan is based on correcting that.
The green boxes are buy targets and the red boxes are sell targets. I've arrived at these buy/sell areas using other indicators but didn't want to clutter the chart so I left them out.
In the event LTC doesn't just rocket over $215 in the next few days I'll use this plan as a starting point.
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I forgot to mention I noticed a Death Cross on the 6hr chart
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Stochastic DIvergence pattern invalidated. This Bearish Scenario very possible.
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LTC Touches 165 - If you are gambler you can enter here with a stop at 164. Target 195ish.