Last day market started some down trends so this is the time to revise our strategy because we should always be ready.
As you see in LTC the higher high is finally broken and this is a good sign for another up trend but after that some bulls have decided to collect their profit so the price made a pullback to 271.88 (close price resistance). Tow last candlestick's lower shadow are good signs that the price is reacting to the resistances for now. I believe if the price can hold itself above these resistances we should wait for a confirmation candle pattern and then enter the market but if we want to trail the price best place for stop loss would be 201 EUR because In my opinion if the price goes below 201.71 the down trend is confirmed.
So good luck and decide wisely.
As you see in LTC the higher high is finally broken and this is a good sign for another up trend but after that some bulls have decided to collect their profit so the price made a pullback to 271.88 (close price resistance). Tow last candlestick's lower shadow are good signs that the price is reacting to the resistances for now. I believe if the price can hold itself above these resistances we should wait for a confirmation candle pattern and then enter the market but if we want to trail the price best place for stop loss would be 201 EUR because In my opinion if the price goes below 201.71 the down trend is confirmed.
So good luck and decide wisely.
