Scalping extension but bearish break-out imminent. Short.

1 Ağu 2018

LTCUSD is still within the 1D Rectangle but all technical indicators have turned bearish (MACD = -1.261, Highs/Lows = -3.2807, B/BP = -8.700) as it is approaching the July low of 74.340. I expect 4H to get oversold at this point (RSI = 35.241) and consolidate for 1 or 2 sessions before it crosses the 72.410 June bottom. We now cease scalping of the Rectangle and instead maintain only the shorts with TP1 = 70.855 and TP2 = 49.508 (November 02, 2017 bottom).