We have a good setup with Litecoin but it actually demands us to watch the price action closely.
LTC found support at the 5day MA and bounced back up forming a new trend line within the triangle setup.
This is a setup where a bullish or bearish scenario could unfold:
1. Bullish: stop buy at 237 as a breakout of the previous highs (blue line) would indicate a run up toward 270-300
2. Bearish: stop loss 2-3% below 206 (previous major pull back candle) as a break down of the previous major low would indicate more downside to come at least until the .382 fib from the 100 level dating back 2/2/2018
Let's see how this plays out.
LTC found support at the 5day MA and bounced back up forming a new trend line within the triangle setup.
This is a setup where a bullish or bearish scenario could unfold:
1. Bullish: stop buy at 237 as a breakout of the previous highs (blue line) would indicate a run up toward 270-300
2. Bearish: stop loss 2-3% below 206 (previous major pull back candle) as a break down of the previous major low would indicate more downside to come at least until the .382 fib from the 100 level dating back 2/2/2018
Let's see how this plays out.
Nota
Nice break out, stop loss increased to 230. The market doesn't care what I think but I'd like to see something like that for the next move:
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.