SUMMARY
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Here is Litecoin (LTC) long term chart and check out the pattern! A symmetrical triangle with the ABCDE waves labeled. All are complete except for wave E and that too is just about finished. This is exciting because as the E wave is sitting on the bottom trendline of the triangle, the propensity of the price is to breakout to the upside!!
So, let's now combine price and pattern with Elliott Waves. The subwaves of the ABCDE qualify the count. Volume has decreased to the minimal level; hence, volume confirmation is had for the symmetrical triangle. The MACD is also genearting the now very common symmetrical triangle pattern also! Expect a breakout soon!
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Please consider reviewing these Tutorials on:
Elliott Wave Counting Tutorial #1
Elliott Wave Counting Tutorial #2
Elliott Wave Counting Tutorial #3
Laddering and Buy/Sell Setups.
Laddering Example with EOS
Tutorial on the use of Fibonacci & Elliott Waves
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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