LTCUSDT Daily S/R|Swing High|Volume Climax|EMA Ribbon|PA

23 באוק׳ 2020

Evening Traders,

Today’s analysis – LTCUSDT- breaking above key Daily S/R, a back test of the level will allow for a long position.

Points to consider,
- Price Action Impulse
- Daily S/R Support (.50 Fibonacci Confluence)
- Upper Daily S/R Resistance
- Oscillators Extended
- Volume Climax

LTCUSDT’s immediate price action is impulsive; breaking key levels, confirming an S/R Flip Retest of Daily S/R will allow us to have a bullish bias.

The Daily S/R support is in confluence with the .50 Fibonacci and EMA Ribbon bull cross. This area holding true allows for risk defined entries.

Daily S/R resistance is immediate target, LTCUSDT breaking this level will prove to be extremely bullish.

Both oscillators are overextended; a reversion to their means is probable. There is also a valid volume climax node signalling a temporary top. Follow through here is important for sustaining a bullish bias.

Overall, in my opinion, LTCUSDT is a valid long with defined risk; price action is to be used upon discretion/ management of trade.

Hope this analysis helps!

Thank you for following my work

And remember!

“Win or lose, everybody gets what they want out of the market. Some people seem to like to lose, so they win by losing money.” – Ed Seykota