Accumulating a Long Position on $LTC - Bitmex Margin Trading
Updated
As I've said before, I like to accumulate my leveraged trading positions at 10x leverage and a little at a time to mitigate risk and ensure I get a good entry. I like LTC a lot here as I see a potential giant falling wedge on the 4 hour. LTC has been suffering for a while but I think we at least see a short term bounce here. I have stops below the wedge support and if we break that it probably means that BTC is dumping. If that happens I would look to short on the retest of former support. We also have a low stoch, rsi, and we are near the bottom of the 4 hour bollinger bands (and the 1 hour). Entry .01194. We'll see what happens!
Note
LTC seems to have found a nice little base of support here at the bottom of this potential wedge. We'll see how it plays out but I'm adding to my position now. SL still at the break of the wedge.Note
Looking good here. Waiting for a BTC bounce to get some real action here.Trade closed: target reached
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