LTC USD short new idea

I think it's too early to go to $69 region. We should go sideways for a couple days (I think meanwhile Bitcoin will go to 6400 region - see my other chart). I am not very sure, that's why I'll wait until MFI on hourly chart is green (see the arrow), that should make a Wolfe wave count on the side of the wedge with the wave 5 being at 72.7- 73.2. If MFI turns green here, we should hit that $78 I was hoping for, IF it's the same pattern that I've seen months ago. From there we should go to $69 sometime on Sunday. Which makes sense, on Sundays we often go down (not always). There is that pink line, that connect the middles of the double tops. I don't know how important it is, but it's close to the goal of the head and shoulders pattern.. So let's see...Meanwhile, there is time to do some errands :)

Kommentera:

Seems like we are forming a hammer on hourly chart. That might indicate going up to that blue line again. Or $78? This number is stuck in my head lol
But I’ll hold off from doing the trade. I’ve been fooled by hammer before.