DOES LTC REPEATES ITSELF??
On 31 December we became overbought on the stochastic RSI.
we stayed above the 80 area for 16 bars (weeks). After 16 bars we slipped below the
overbought area, and after 6 bars, we came back above this zone.
Afterwards, we broke right through the overbought area, sharply to the oversold area.
The whole move since we broke initially to the overbought zone, till its sharp breakout at 1 july took 26 bars overall.
So far, the exact same scenario has happened in the chart right now- just upside down.
when we broke through the oversold zone on 15 july, we stayed in this zone
for exactly 16 bars, just like the previous move, untill we came above the oversold area,
and started returning back into oversold zone, just like
happened in the other move. this move may take 6 days. right now we're in the 5th day,
and already started reaching to oversold area.if it wont be exactly 6 bars, then
it may be around this number (of course if it will even break below this zone fully).
If it does reach to this area, i could expect we may stay in there untill 13 Jan 2020- which then the 26 bars are completed,
and then break above the oversold area, maybe even sharply, just like the previous move.
we stayed above the 80 area for 16 bars (weeks). After 16 bars we slipped below the
overbought area, and after 6 bars, we came back above this zone.
Afterwards, we broke right through the overbought area, sharply to the oversold area.
The whole move since we broke initially to the overbought zone, till its sharp breakout at 1 july took 26 bars overall.
So far, the exact same scenario has happened in the chart right now- just upside down.
when we broke through the oversold zone on 15 july, we stayed in this zone
for exactly 16 bars, just like the previous move, untill we came above the oversold area,
and started returning back into oversold zone, just like
happened in the other move. this move may take 6 days. right now we're in the 5th day,
and already started reaching to oversold area.if it wont be exactly 6 bars, then
it may be around this number (of course if it will even break below this zone fully).
If it does reach to this area, i could expect we may stay in there untill 13 Jan 2020- which then the 26 bars are completed,
and then break above the oversold area, maybe even sharply, just like the previous move.
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