LTCBTC Long
Updated
I love this kind of trades where you have a clear entry and a clear stop loss .
RSI is making divergences on different time frames.
bottom seem to hold
we had a bounce and a drop that re-tested the support .
On the daily, today it looks like a doji at the bottom of ta bull flag.
RSI is making divergences on different time frames.
bottom seem to hold
we had a bounce and a drop that re-tested the support .
On the daily, today it looks like a doji at the bottom of ta bull flag.
Trade active
LETS GO CHAMPNote
if the support fails, i m going short.Note
double top , we're at the neckline . if recall correctly, only 30% actually break the neckline. So i m keeping my long for now Trade closed manually
Note
Post trade analysis: BTCUSD was forming a triangle that was likely to shoot upwards( and it did).
Case 1. BTC shoots upwards and rallies for a bit : LTCBTC goes down or sideways at best. (It can't compete with the short term rally of the BTCUSD pair)
Case 2. BTC triangle breaks downward. : LTCBTC goes sideways or down. The chances for a LTC rally when big daddy BTC is falling is low.
Strong BTC movements in any direction tend to cause alts to bleed.
Conclusion: Long was a low probability trade. A good stoploss saved me from bagholding
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.