LTCBTC Long
Updated
Swing Trade (D,240)
On the 240H after price breached the orange line we can see some selling pressure coming up and bears are not giving any chance for the bulls to gain some momentum as you see no pull back for buyers to sell On the 240H after price breached the orange ray we are still in buyers territory and we got some selling i.e. a pullback to buy at cheaper price and clearly indicating that price doesn’t want to go lower that the orange ray and buyers gobbled up so quickly and tried to make a HH and failed. Then sellers are so week that took them so many hours to come down to the 0.0165 area (This is another sign that Buyers are still in control) I can do some buying once I see price above the gray Ray and then target the 0.0197 Sat mark. LTC is Ranging on the daily and 240H.
Risk management
Entry: 0.01733
TP: 0.0197
Stop loss: 0.01599
Position Size: 1% Risk on your capital/1340
Risk/Reward: 1:3 So, HH RR.
If TP is hit then we will be at 12% profit.
Buy from Sellers and Sell from Buyers.
On the 240H after price breached the orange line we can see some selling pressure coming up and bears are not giving any chance for the bulls to gain some momentum as you see no pull back for buyers to sell On the 240H after price breached the orange ray we are still in buyers territory and we got some selling i.e. a pullback to buy at cheaper price and clearly indicating that price doesn’t want to go lower that the orange ray and buyers gobbled up so quickly and tried to make a HH and failed. Then sellers are so week that took them so many hours to come down to the 0.0165 area (This is another sign that Buyers are still in control) I can do some buying once I see price above the gray Ray and then target the 0.0197 Sat mark. LTC is Ranging on the daily and 240H.
Risk management
Entry: 0.01733
TP: 0.0197
Stop loss: 0.01599
Position Size: 1% Risk on your capital/1340
Risk/Reward: 1:3 So, HH RR.
If TP is hit then we will be at 12% profit.
Buy from Sellers and Sell from Buyers.
Trade active
I was speculative about this trade, different perspective on the market is happening rite now. On the 240 once price breach the blue dotted line and stay below that, then some selling gonna happen taking out the Stop loss and few positions by the sellers. If it didn't breach then there is no problem with this trade. As we have BTC weakness on the positive note trade is not heading north. But the target remain unchanged for on the daily, before hitting the target I am anticipating some sell but not for sure yet.
If you doesn't want to lose some Sats then close your positions once price breach the blue line and stay below that if you want to wait and see how it gonna play out then hold for the next 2 days. I am biased towards bullish view.
Trade active
Widening my stops! Still bullish.
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