Hello traders đș .
If you remember I published an idea about the LTC and in that idea I was talked about the long term perspective of the LTC and possible price targets for it , if you interested in the long term and mid term targets of the LTC , you can go and check out my previous idea of LTC . ( you can find the related link down below this idea ) .
But in this idea I want to talk about the immediate short term targets for the LTC and upcoming trades for it so make sure that you read this idea until the very end and also don't forgot to follow me for more support , thank you my friends đ .
Here we have the 12H chart :
In the chart above you can see we have something very similar to the triangle pattern or in the other point of view you can call this an inverse H&S pattern , which in my opinion is more accurate than the triangle pattern because for calling this pattern as triangle we needs more touch points in the lower trend line of the triangle but it's depends on you and your strategy to decide which on it is .
However the technical target of the both pattern is same , and you can measure it as picture below :
If you want to use the Fibonacci tool for measuring the targets you can act like the above picture but currently it's not true because we don't know that the where price decided to reverse from it to chose it as a PRZ area but if we think that the price gonna find support from the lower trend line of the triangle and draw Fibonacci from that level .
However the more accurate way to calculate the target is the common way to calculate the targets of the inverse H&S pattern like above picture , you must measure the distance between the neck line and the head , then you transfer it above the neck line .
Thank you guys for reading my idea , also don't forget to like my ideas and follow me for more supportđ.
If you remember I published an idea about the LTC and in that idea I was talked about the long term perspective of the LTC and possible price targets for it , if you interested in the long term and mid term targets of the LTC , you can go and check out my previous idea of LTC . ( you can find the related link down below this idea ) .
But in this idea I want to talk about the immediate short term targets for the LTC and upcoming trades for it so make sure that you read this idea until the very end and also don't forgot to follow me for more support , thank you my friends đ .
Here we have the 12H chart :
In the chart above you can see we have something very similar to the triangle pattern or in the other point of view you can call this an inverse H&S pattern , which in my opinion is more accurate than the triangle pattern because for calling this pattern as triangle we needs more touch points in the lower trend line of the triangle but it's depends on you and your strategy to decide which on it is .
However the technical target of the both pattern is same , and you can measure it as picture below :
If you want to use the Fibonacci tool for measuring the targets you can act like the above picture but currently it's not true because we don't know that the where price decided to reverse from it to chose it as a PRZ area but if we think that the price gonna find support from the lower trend line of the triangle and draw Fibonacci from that level .
However the more accurate way to calculate the target is the common way to calculate the targets of the inverse H&S pattern like above picture , you must measure the distance between the neck line and the head , then you transfer it above the neck line .
Thank you guys for reading my idea , also don't forget to like my ideas and follow me for more supportđ.
