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PAY Pennants patternAs requested here is my re-evaluation of PAY. for 30m it looks like we have a nice pennats pattern with the first candle close to breaking top of resistance. The 1D RSI still looks strong wich make me think we still have one more push. If we break up from the pennant we will have another resistance level around 1600. So that will be my first sell target, Once at 1600 and if RSI still looks strong i think we can go past 1900 and find some resistance at 2000. Breaking down from the pennant and we most likely go down to lower support around 1000. If we bounce on the 1000 - 1100 that will be my BUY signal. Invest at own risk :)
by Bjurhager
Litecoin move expected this weekendIn the last post, about a week ago, I indicated that Litecoin appeared to be coiling. This is a contracting pattern that occurs prior to a big move. It can also be referred to as a symmetrical triangle pattern. Further indications include a contracting Bollinger Band and decreasing volume. I was not sure then which way we'd move, just like I am not sure now which way we'll move. However, I can tell you that most of the signs on my simple charts point up. I will present quickly here the talking points for a move to the upside as well as any I see for a move down. Please feel free to add to either list in the comment section below. The case for going up: -Still in the Bullish long term green channel -A close above the downward sloping blue trendline -A possible close above the middle Bollinger Band today -A break out of symmetrical triangle's usually follow longer term trends The case for going down: -50 MA seems hard to beat lately -Litecoin follows Bitcoin. Wherever Bitcoin goes, Litecoin will probably eventually follow. And at this point, it is more likely that Bitcoin travels down before going much higher. If you are long Litecoin right now ...hold (or, as they say, HODL). Adjust your trailing stops frequently to follow the bottom GREEN trendline upward. If you want to go long, I'd wait for further confirmation. However, you wouldn't be wrong to start your dollar cost avg. buy in at this level. If you want to go short, this is not the place to do it. Wait for further breakdown and confirmation. As always, happy trading out there and be careful. P.S.- On the chart, I show LTC wedged between two prices. These are the 50MA and the middle BB.
COINBASE:LTCUSDLong
by stewdamus
4
Litecoin. Coiling.Litecoin remains in our bullish channel. However, it continues to sink lower and lower towards the bottom. We've managed to break below our middle Bollinger Band and our 50 MA. As we near the bottom of our Bollinger range, we are also approaching a $38 support level. Since the $38 support and the bottom Bollinger intersect at this point, if we travel down here in the next day or so, it may provide enough of a boost to hurdle us through the downward sloping RED trendline that we've been under since July 4th. Our Bollinger Band is contracting AND we have been in a coil pattern (symmetrical triangle) for the last month. This indicates to me that when we break out, the break out will be significant! Since we remain in the bullish channel, probability suggest the breakout will occur to the upside, as it usually follows the current long term trend. However, caution is to be exercised until confirmation is made indicating the direction of our next move. You wouldn't be wrong to remain long on LTCUSD here, however, ensure your trailing stops follow the bottom GREEN bullish trendline upwards and adjust daily. Happy trading all!
COINBASE:LTCUSDLong
by stewdamus
4
Litecoin - Know your levels$51.21 $46.65 $46.01-.21 $44.71 $41.50 $37.30 I don't anticipate too much more downside for Litecoin (LTCUSD) before we head back up, but if we do head lower, we'll go all the way down to $41.50. Below that $37.30. If per chance, we somehow find ourselves down in these areas, we will find further support from our 50 MA, the Lower Bollinger, and the bottom of our channel (lower green trendline) which should be intersecting with our flat line supports in the next two weeks. I do not think we'll get this low and I'm 90% certain Litecoin will not break out of/lower than our green channel. I'm swinging this to an upside target of at least $60, maybe more, depending on price/time/pattern points at that time. Happy trading folks!
COINBASE:LTCUSDLong
by stewdamus
Litecoin LTCUSD to test $45 support - Should bounce hereAs I stated in my last post, I may have jumped the gun a bit on my Litecoin purchase. I knew this. But because I am a swing trader, I did not want to miss out on opportunity at that $50 level which provided fairly strong support. The next support level I see is even bigger. Why? 3 reasons: 1) I have redrawn my Fib retracement from the lows on 3-30 to the high on 07-05. This now provides .236 retracement support at approx. $45. 2) The low of our 07-04 candle sits at around $45 3) The middle Bollinger Band and 20 MA should intersect the first two supports at this level. If you have not already picked up some Litecoin, I would advise doing so at $45. You could always DCA down from there, should we go lower. I happen to believe we'll bounce at $45. Happy trading friends.
COINBASE:LTCUSDLong
by stewdamus
Still $2600In yesterday's post, I indicated that $2600 was the level to beat. We bumped our heads twice at or near that level. Now we also can see the middle of our Bollinger Band coming into play to help act as resistance at this level. $2600 is still our level to beat. After that, another big resistance at $2760. Until then, I advise a fair amount of caution to be exercised here. If we don't beat these levels, it could turn bad quick. However, as long as we remain inside my green channel, I'll remain optimistic and long. Happy trading.
BITSTAMP:BTCUSDLong
by stewdamus
5
Inside bar without any resistanceAs we all know, inside bars suggests a continuation of the trend or a reversal of it when forming on notable resistances/supports, USTEC has continued its journey to the moon after the recent huge decline. Buying a stock after reaching an all-time high, after retracements, is alright. I've been holding two long positions for the past weeks with an open TP, and I will hold so. //Jim Cramer is one of CNBC’s top stocks analysts and a former hedge fund manager. In an edition of Mad Money, Cramer explained that he is often inclined to buy stocks that have reached fresh all-time highs, providing they have been rising consistently, and have pulled back since reaching their latest high point: "When I'm ready to establish a position, I wait for a pullback to come that's at least 5 percent down," Cramer said. //
TVC:NDQLong
by bearvsbullmarket
1
Lifestyle Delivery Systems (medical cannabis sector) ripe !Dear fellow traders, it is time to act with a big BUY on Lifestyle Delivery Systems (LDSYF). LIFESTYLE DELIVERY SYSTEMS (Cannabis sector) Potential; Massive (starting from this spring). Read Future Money Trends article on the Company,Equity trading for millenials and madmen, Seeking Alpha and the webpage for LDSYF. Cathalyst now; resent interwiew with CEO, good news in general for Product, production, collaboration with others (Clinical tests, marketing and retail strategy) finance in order, management experienced and succesfull trackhistory) technical analysis and "timing factors" for a longtime succsess story. Feedback, pro and cons in this play ?
LLong
by Ulf53
1