Demonstrating Elliot Wave and Ichimoku Wave with Litecoin

  • Home
  • /
  • Blog
  • /
  • Demonstrating Elliot Wave and Ichimoku Wave with Litecoin

LTCUSD Wave Pattern 8-24-2014

Looking back on the price action from the last major low of LTCUSD an Elliot Wave pattern and Ichimoku wave pattern have taken shape. 

1st Wave: 3.60 -> 4.77
2nd Wave: 4.77 -> 4.43
3rd Wave: 4.43 -> 6.18
4th Wave: 6.18 -> 4.69 (to the high of the 1st Wave)
5th Wave: 4.69 -> 6.18 (projected)

If you notice, the Elliot wave matched the cannon description of the pattern with the 4th wave retesting the high of the 1st wave which was also the 50% retracement. This level additionally matched with the bottom of the Ichimoku cloud.

Now I would project the 5th wave to have a high probability of retesting the high but a low probability of breaking it. LTCUSD remains in an unbroken downtrend since April 2014. There is no indication of bullishness in this alt coin with any high probability.

Charts courtesy of

If you would like to learn how to trade like an institutional trader or learn more about our multi-timeframe email alerts, go to or email us at

EDUCATIONAL USE: Commodity Futures Trading Commission, Forex, Futures, Equity and Options Trading has large potential rewards, but also has large potential risk and may not be suitable for everyone. You must be aware of the risks and be willing to accept them in order to invest in these markets. Do not trade with money you cannot afford to lose. This is neither a solicitation nor an offer to Buy/Sell. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this document. The past performance of any trading system or methodology is not necessarily indicative of future results. All information provided on the Blog is for educational purpose.