LTC/USD - Diamond Chart Pattern - HMMM... Not A Common One!
I had a follower ask me about the diamond chart pattern from my last video, so I decided to talk about it a little bit. To be honest it's not a pattern I typically watch for, but it can be a very profitable pattern if identified and traded accordingly.
So if I have drawn the pattern correctly, you can see a break to the downside based on this patter would put price back down in the $150 areas, which I personally do not think LTC is going. Of course, I could be completely wrong, but based on what i'm seeing in my chart and other things i mention in the video, I think upward price action is more likely at this point outside a small pullback to say $200 or so.
I hope you enjoyed the video... give a like and let me know what you think is going to happen over the next few days.
So if I have drawn the pattern correctly, you can see a break to the downside based on this patter would put price back down in the $150 areas, which I personally do not think LTC is going. Of course, I could be completely wrong, but based on what i'm seeing in my chart and other things i mention in the video, I think upward price action is more likely at this point outside a small pullback to say $200 or so.
I hope you enjoyed the video... give a like and let me know what you think is going to happen over the next few days.
