You're having the recovery bootloop, it's common unfortunately with the lg phone that has the custom recovery especially the touch version of cwm. On my phone LG-E980, if I installed touch cwm, whenever I use the volume + power buttons to get into the recovery, I usually will get stuck in the recovery boot loop. I heard it has something to do with the loki tools. If you want to find out more, search philz cwm recovery, and see the forum discussion on the bootloop recovery. So the solution to get you out of loop, you can try downloading the Twrp recovery(Twrp.zip) that you can flash with your cwm. Flash it and it may get you out of the loop(I say may because my device is different). However, if that doesn't work, then you're going to have flash either the OS or the recovery with lg flashing tool, which means you will loose all the data that you forget to backup. There are few more fixes in philz discussion forum you may be able to use, if none of my solutions work for you.