Cup and handle breakout target 155ish? LTC

Uppdaterad

I see a possible cup and handle breakout on LTC 4HR chart (green arrow) target of the cup and handle would be 155ish, which would test the low from March 15(purple arrow) and the underside of the maroon trendline broken previously. First major resistance would be the 1200 EMA, coinciding in that area with the top of the long term downtrend channel (black line).

Kommentera

check that.. first major resistance would be 138.5, then 145(1200ema) then 155

Kommentera

failure of cup and handle to break out

Kommentera

a break and close below the double-top support line at 124.50 would suggest a retracement to 116 area.

Kommentera

VERY IMPORTANT lines to be watching for support/resistance

Kommentera

tradingview.com/x/kthCyKaN/Interesting fractal formations

Kommentera

in the chart above, I color coded the similar fractal formations... they even both feature a test and potential breakout/fakeout of the trend line

Kommentera

if LTC holds the blue uptrend line, we can test the resistance line at 145ish
if LTC breaks the blue line, it can test 132 support. If 132 support holds, it can test the resistance line at 145ish
if LTC breaks 132 it can complete a double top with a target of 124.50ish

Kommentera

had to re-tweek the line, no break. gonna take a little break from the charts for a bit to get my sanity back lol

Kommentera

since early yesterday, been tracking this rising wedge, typically rising wedges break downward, and as we approach the resistance line at 144-145-146ish, I would expect a rejection there.

Kommentera

formation has good credence

Frånsägelse av ansvar

Informationen och publikationerna är inte avsedda att vara, och utgör inte heller finansiella, investerings-, handels- eller andra typer av råd eller rekommendationer som tillhandahålls eller stöds av TradingView. Läs mer i Användarvillkoren.