Levels are well noted if they are spotted early enough. On the 3 hours time frame, the price chart of LTCUSD has been spotted forming a bullish reversal chart pattern which needs the resistance needs to be broken. The shape of the flag looks like a short symmetrical triangle. The bullish pennant flag patterns are only valid when the body of the candle stick closes above the resistance. Volume trend downward 89% of the time before a possible breakout. Breakout is upward 57% of the time. considering the fact that A tight pennant performs better than a loose one, this pattern is a loose one and might take more time with its consolidation before a possible breakout.
The levels to keep an eye are as follows:
Breakout levels: $63.31
Resistance 1: $67.93
Resistance 2 $74.84
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Ideas published should not be referred to as an investment advice.
The levels to keep an eye are as follows:
Breakout levels: $63.31
Resistance 1: $67.93
Resistance 2 $74.84
Good luck to everyone! Click the follow button to stay tuned for more trading ideas! Like the idea? Hit the like button!
Ideas published should not be referred to as an investment advice.