SUMMARY
Litecoin (LTC) seems to be displaying all the signs of a triangle consolidation. If you only and constantly stare at the chart using 1 hour or 15 minute time scale..you'll never see this pattern. I always start at the daily time scale to look for the big picture and that's when these patterns can be discerned. The chart below shows that waves c,d and e still remain incomplete. Time is needed.
The below chart is that of the LTC/BTC pair and as usual, it's lagging the LTC/USD. Still, forward discernment can be used to plot out a triangle pattern, given that the USD/BTC pair leads. As the chart shows, the b is just done and c,d,e remain unstarted.
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
These Technical Analysis Books: Elliott Wave Priniciple & Technical Analysis of Stock Trends are highly recommended
@haejin's Trading Nuggets
Essay: Is Technical Analysis a Quantum Event?
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