My bias on LTC is also Bearish right now. But that doesn't mean I won't trade it to the upside. While these ascending triangle formations are traditionally bullish for a break to the upside, we could also just be forming a Head and Shoulders pattern? Which is it?
The upside play:
caution Higher risk trade: throw a buy stop above 155 for a move to 165 and possibly beyond.
Downside play:
Head and shoulders finishes forming and breaks down, we could go all the way to 120 if not lower.
Happy Trading!
-Sherem
The upside play:
caution Higher risk trade: throw a buy stop above 155 for a move to 165 and possibly beyond.
Downside play:
Head and shoulders finishes forming and breaks down, we could go all the way to 120 if not lower.
Happy Trading!
-Sherem
注释
and please smash that like button if this helps! thanks!注释
Looks like the answer is Head and Shoulders. Not ascending triangle. More downside to come if we break this neckline
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