Cup and Handle pattern in LTC. Target is upper channel line. Note that this is a logrithmic chart. Stop is beneath support trendline. Potential 120% return in a short period of time. Risk reward 4:1 initially; then risk decreases as support trendline rises.
Note
Most good breakouts work right away. This one is not working so far and we're into the 4th day. Suggest: 1.Short term traders: Set stop beneath low of day 12/05/17 (Coinbase 101.01). You can rebuy on strength, which I will post.
2. Long term traders (or investors), leave stop below red support trendline.
Note
1. We now have strenth on the pullback to 95.362. Off the high market has made a .382 pullback and then a .786 correction to the
pullback.
3. Buy on trendline break above 103.24.
4. Short term traders place stop just under 95.
5. Long term traders/investors place stop under red support trendline.
see
Note
1. Trendline break has not happened2. Market doubled at the .382 correction and held
3. We can now buy on the trendline break, but at a more favorable price
4. Buy on trendline break above 100.87
5. Target still 235
6. Stop 95
as shown below:
Trade active
Initial breakout buy lifted off nicely. Plenty of opportunity for some profit taking, if desired. We now have a descending triangle and an opportunity to add-on or rebuy.Target still 235 area. Buy above 152.50 and stop beneath 125.50, as shown below.
Trade active
Please note that the previous chart uses Kraken for a data feed, as my CoinBase feed has disappeared for some reason. I checked GDAX and the corresponding CoinBase point is 173.24, so for CoinBase users buy above 173.32. Always remember to check the top left of a posted chart for where the data is coming from before acting on it!Trade active
LTC consolidated into the trendline. You can buy now, with stop beneath 25.50 (Kracken), beneath the 60M bar at the 04:00 lowTrade active
A must read for those who want to understand the true value of BitCoin:decentralize.today/dont-fall-for-the-hype-why-bitcoin-s-10-000-price-doesn-t-reflect-its-true-value-6b42a59fce0a
Trade closed: target reached
Looks like Santa came 6 days early this year; and right on the nose at target 235.00 (so far). So trade is closed, no more udates. However, if you are still in and it breaks 235 to the upside, then suggestion would be to (enjoy the ride!) and trail your stop by either most recent 60m bar, 240M bar, or daily bar, depending on your own situation.Trade closed: target reached
As this trade illustrates, it's a good idea to trail your stop when in a strong market once you have hit the target.
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.