Formation of new Shark pattern:
On short term hourly chart the price action of Litecoin is forming bullish harmonic Shark pattern and soon it will be entered in potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets according to harmonic Shark pattern should be:
Buy between: $41.14 to $40.69
Sell between: $41.66 to $42.70
Stop Loss:
The potential reversal zone area which is up to $40.69 can be used as stop loss in case of complete candle sticks closes below this level.
Possible profit and loss ratio:
As per above targets this trade has the profit possibility of 4.93% and as per above mentioned stop loss, the loss possibility is 1.1%.
Note: This idea is education purpose only and not intended to be investment advice, please seek a duly licensed professional and do you own research before any investment.
