LTC Correction not done yet?
It doesn't look like the correction is done yet.
If we consider an expanded flat correction we are now on wave C. According to theory wave C usually is 100% to 165% of wave A. I am not willing to accept yet that LTC will go down to 36 euro (161,8%) so I have drawn the C at the !00% level which is around 83 euro the same level we were on february 6th.
At the moment the chanel for C is pretty clear.
The most logical thing to happen right now would be that the C wave will unfold in a typical 5 wave structure something like i've drawn in yellow. At the moment the ratio's between the waves doesn't point to that. But things change quickly.
Another possibility is that the C wave unfolds as an ABCDE structure. This is wat is looks like at the moment drawn in purple. E wave should, according to theory, finish around the 100 euro.
I've sold my LTC at 129 this morning after catching a nice ride up from 116.
For now it's a no trade zone for me.
By the way I actually hope i'm wrong. Would be great to start an uptrend again.
If we consider an expanded flat correction we are now on wave C. According to theory wave C usually is 100% to 165% of wave A. I am not willing to accept yet that LTC will go down to 36 euro (161,8%) so I have drawn the C at the !00% level which is around 83 euro the same level we were on february 6th.
At the moment the chanel for C is pretty clear.
The most logical thing to happen right now would be that the C wave will unfold in a typical 5 wave structure something like i've drawn in yellow. At the moment the ratio's between the waves doesn't point to that. But things change quickly.
Another possibility is that the C wave unfolds as an ABCDE structure. This is wat is looks like at the moment drawn in purple. E wave should, according to theory, finish around the 100 euro.
I've sold my LTC at 129 this morning after catching a nice ride up from 116.
For now it's a no trade zone for me.
By the way I actually hope i'm wrong. Would be great to start an uptrend again.
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