LTR 2.28% $1.12 liontown resources limited

Another view/opinion by another chartist should always be...

  1. 2,588 Posts.
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    Another view/opinion by another chartist should always be welcomed. So welcome johnybg to the LTR charting thread. You are correct LTR, unless something is kicking it up real soon isn’t looking strong, but it probably is worth considering that after the correction down, LTR is in its first impulse wave up. Some consider wave 1 up as impossible to trade. So no wonder most of us are looking for something to hang our hat on. So it is only natural to look for any CS and/or chart patterns. However we shouldn’t have to search for them, because if they don’t reveal themselves they might not be there and even if we find any how far are they from being confirmed anyway.
    So you might like to check on the Dumpling Bottom, because as Cabbie pointed out In his supportive way, there might be no such pattern. Is it a shame, not IMO because it can be easily corrected if pointed out. Well IMO it wouldn’t be as shameful as for instance applying a an AB=CD in mid downtrend and based on that predicting a trend change as well as predicting a higher high, but Cabbie might see that differently too.

    You are correct with the RSI currently being below the 50 level, but are you aware of the RSI IMO having formed a Failure Swing Bottom, which is in my opinion as bullish as we currently can get. I marked the spot where it confirms and where/when a buying opportunity might present itself, is you were looking for an entry. Please do your own research on that!
 
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Last trade - 16.10pm 25/04/2024 (20 minute delay) ?
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