LTC Forming Potential Diamond for 10% swing.

LTC and BTC have repeatedly formed diamond patterns that have been very accurate in predicting price action.

I'm watching LTC for another potential diamond which appears to be forming. IF it completes, measure height would be 12.15, for a 10% swing.

If it completes and breaks up, and confirms above 124.95 then TP is 137.1. If it breaks down and confirms below 112.8 then TP is 100.65.

More on the diamond here: thepatternsite.com/diamondb.html

Комментарий:

A new lower has been made, but potential diamond still in play. TPs should be slightly adjusted if pattern forms. Will update price targets if pattern completes.

Комментарий:

A nested diamond fractal has formed inside the larger potential diamond. An attempted breakout above 118.11 has pulled back. Upper TP would be 124.22 for the inner diamond and Lower TP 105.89

Комментарий:

A nested diamond fractal has formed inside the larger potential diamond. An attempted breakout above 118.11 has pulled back. Upper TP would be 124.22 for the inner diamond and Lower TP 105.89

Сделка активна:

Long position entered on pullback to inner diamond trendline @115.31. Expecting at minimum a test of the inner diamond tip at 118.11.

Комментарий:

Moving toward tip. Lets see if we can get a confirmation and move to the 124 TP for the inner diamond. Following trade here with a tight S/L because market conditions are ripe for a dump at any moment.

Комментарий:

TIP tested and broke. Should move to 124 now.

Сделка закрыта: достигнута стоп-лосс цена:

Stopped out at 118. Breakout failed.

Комментарий:

Potentially, just a (sucessful) stop hunt but market is too risky to hold.

Сделка активна:

Long entered at 117.25, again will protect with a tight stop, and will up the stop as price moves up at the risk of being stop hunted.

Сделка закрыта: достигнута стоп-лосс цена:

Stopped out at 118.75. This is fun. Not. Oh well, will rebuy another dip. with another stop. Small profits are better than none.

Комментарий:

It TP1 hits of this inner diamond it will complete the larger diamond. Price still pulling back here though.

Сделка активна:

Long entered at 115.5. Yet another diamond has formed. Looks like bulls are trying to put in a bottom here. Still downside potential risk so tight stops are mandatory.

Сделка закрыта: достигнута стоп-лосс цена:

Trailing stop hit at 116.8.

Сделка активна:

Re-entered at 116.05. S/L at 116 and will again trail to protect against loss.

Сделка закрыта: достигнута стоп-лосс цена

Комментарий:

Falling out of inner diamond. Updated Price Targets.

Комментарий:

LTC Big picture TPs

Комментарий:

LTC falling out of inner Diamond expect to test support at 112 and will take long position if it holds. It would indicate we are range bound for 112 to 119.73 until it decides where to go. If it breaks, price should move toward 104.27 were price action will determine next swing.

Комментарий:

LTC 112 did not hold. Odds are any bounce from here would be just shorts covering. I am going to resist temptation to go long until we get down into the 100s.

Сделка активна:

High risk. Playing a dead cat from 111.25 expecting .5 local fib retrace for a small scalp.

Сделка закрыта вручную:

Stopped dead in tracks. Took profit at 112.99

Сделка активна:

Round 2 111.05 long. This is not a good idea BTW. Tight stops mandatory.

Сделка закрыта: достигнута стоп-лосс цена

Сделка активна:

Looking for a 119 TP for an exit here. Trailing stop in place

Сделка закрыта вручную:

TP reached. Expecting move to up to 119.73 before retrace, but took profit while on table.

Комментарий:

Red line breached.

Сделка активна:

RE-entered at 119.73

Сделка закрыта: достигнута тейк-профит цена:

TP hit. Watching price action.

Сделка активна:

123, re-entered long.

Комментарий:

Stopped out. Rebought at 121

Сделка закрыта: достигнута стоп-лосс цена:

Sopped at 125.5

Сделка активна:

Limit buy at 124 hit.

Сделка закрыта: достигнута стоп-лосс цена:

Stop hit

Сделка активна:

Long at 121

Сделка закрыта вручную:

Took profit at 123.73. Setting limit buy at 122

Сделка активна:

Limit hit. Trade active.

Сделка закрыта: достигнута стоп-лосс цена:

Big buy wall put up. Exited at 122.5.

Комментарий:

10% swing achieved. Looks like consolidation will lead to a larger diamond is forming. Will publish new idea with further price action.

Комментарий:

As expected, the larger diamond has formed. You can follow my new idea for a 15-25% swing coming out of the larger diamond.