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LTC/UDST Potential Downward Movement

LTC/UDST Long-Term Trend: Bearish

Key Resistance Levels: 241.37, 284.28, 317.27

Key Support Levels: 207.41, 169.29, 157.11

Daily Chart:

The price on the higher time frame showed signals of a potential reversal. the price is about to change its direction from an uptrend to a downward one by breaking the bullish channel to the downside.

LTC/UDST Medium-Term Trend: Bearish

4-hour Chart:

On the 4-hr time frame, the price succeeded to break the bearish flag pattern to the downside and now it is forming a higher correction count to the lower end of the channel which coincides with a strong resistance. A continuation of the main trend is expected to the downside after this move.

Signal Idea:

Sell Limit Order @ 239.47

TP 1 @ 208.82

TP 2 @ 207.41

Stop Loss @ 254.62

Trade Safely 🙂

About Joe Damien

Joe is a proven Forex analyst and manual trader with 6 years of full-time trading experience. He is a swing trader that relies on price action, market structure and Fibonacci retracement. His two most successful pairs are CHF/JPY, CAD/JPY, but his expertise allows him to profit on any asset or pair.

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