On the 4 hour graph, LRC has exhibited a ~2-day bear run followed by a rapid 16-hour bull run. White trend lines represent the bear run while yellow represents the bull run. Interestingly enough, the bull run has been around 16 hours each time.
By Sunday 10:00 PM (UTC-6), LRC could be expected to hit 1.85. If this current trend continues, a new entry point could be at 1.90 (after waiting for confirmation, of course!)
The exit point would be 2.60 or no later than 20 hours afterwards. If you're feeling greedy, you could also wait for the chance that it breaks out of this existing trend if it hits 2.7.
Since this would be an overnight position, I recommend a stop loss at 1.80 or an alert.
Disclaimer: This is my first published Idea and I am not a financial expert offering you certified advice.
By Sunday 10:00 PM (UTC-6), LRC could be expected to hit 1.85. If this current trend continues, a new entry point could be at 1.90 (after waiting for confirmation, of course!)
The exit point would be 2.60 or no later than 20 hours afterwards. If you're feeling greedy, you could also wait for the chance that it breaks out of this existing trend if it hits 2.7.
Since this would be an overnight position, I recommend a stop loss at 1.80 or an alert.
Disclaimer: This is my first published Idea and I am not a financial expert offering you certified advice.
Note
Based on the slower bear run today, it looks like the entry point needs to be adjusted to Monday 6 AM (UTC-6) and the exit point would be no later than Tuesday 2 AM (UTC-6).Alternatively, another rally means two things: If it stalls at 2.55 within a few hours, the trend is broken and should be scrapped. If the rally breaks the channel, we could be looking at a major bull run.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.