LitecoinShort
short down to the 100 DMA if we close below the current .382 fib
Updated
If we close below the highlighted .382 fib level (pink highlight) then this will become a good opportunity to open those shorts
We should complete the ABC correction down at the 100 day MA (yellow line) with a target of $100
The 100 day MA has typically been a good support and reversal zone when LTC is falling.
This also lines up nicely with the 618 fib of this run up, and also the trending support level too.
all in all there's a lot of indicators point down to $100 if we close below .382 fib level.
We should complete the ABC correction down at the 100 day MA (yellow line) with a target of $100
The 100 day MA has typically been a good support and reversal zone when LTC is falling.
This also lines up nicely with the 618 fib of this run up, and also the trending support level too.
all in all there's a lot of indicators point down to $100 if we close below .382 fib level.
Note
This trade idea is still active, if price comes down and we close below $115 (the .382 fib) this will become an active short trade.Trade closed: target reached
this was a great trade, we just had a perfect touch of the daily MA100 (yellow line). trade successfully closed.
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