Hello.
It is true that the price of Litecoin is currently in an uptrend on the daily chart (making higher highs and higher lows).
From there I'm looking for patterns that can help me do the right trade.
I present to you my findings.
The price made a double bottom formation then reverse and close above the 20 EMA.
the reversal is valid only if there is a close above the first descending trendline that forms during the leading phase.
But there is a lot of clues that match with the description of the pattern that you can read on this site: thepatternsite.com/barrb.html
The targets is the high of the leading phase (107 dollars)
If price drop from now, the last support is 65'77 dollars. Below that I close my trade because I would expect more downside.
So it is a -8% risk for +48% rewards.
Have a good day.
It is true that the price of Litecoin is currently in an uptrend on the daily chart (making higher highs and higher lows).
From there I'm looking for patterns that can help me do the right trade.
I present to you my findings.
The price made a double bottom formation then reverse and close above the 20 EMA.
the reversal is valid only if there is a close above the first descending trendline that forms during the leading phase.
But there is a lot of clues that match with the description of the pattern that you can read on this site: thepatternsite.com/barrb.html
The targets is the high of the leading phase (107 dollars)
If price drop from now, the last support is 65'77 dollars. Below that I close my trade because I would expect more downside.
So it is a -8% risk for +48% rewards.
Have a good day.
Dagangan ditutup: hentian tercapai
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.