LTC has performed an Elliot ABC
Flat ending with a double bottom
. Break of the blue resistance trendline
will confirm a potential trend change. Two aggressive buys are also posted based on the pattern and i) break of an inside bar
(very aggressive) and ii) break of the bar at the low (aggressive). If you want to minimize your risk and get a head start based on the pattern and a signal, then both aggressive trades are good odds to take. If you want to wait for a potential confirmation of a trend change, then wait for the trendline break
and the takeout of 308.00. If the pattern low is taken out, then the trade is void. Buy above the specified points when they are exceeded by $10. The stop is shown beneath the pattern low. How far beneath the pattern low is you choice based on your tolerance for risk and your confidence in the pattern.