Overnight sell off
Updated
So i sold and bought back due to the low momentum. The areas are highlighted with the red then green circle. Im trying to capture a short term bounce for now with cash. Once LTC/USD stabilizes, I will go back to trade LTC/BTC.
LTC might not be done consolidating. There could be one more down leg.
Do to the increase in volume, I bought back.
There was that bounce off 205, where buyers had their knife catching gloves on.
Unless buyers start stepping in; keeping the price above $200, LTC might have a little more consolidation.
I just drew a projection. That is a 60% probability target. It is also in line with the accending wedge.
Good luck all. and thanks for your support and comments.
LTC might not be done consolidating. There could be one more down leg.
Do to the increase in volume, I bought back.
There was that bounce off 205, where buyers had their knife catching gloves on.
Unless buyers start stepping in; keeping the price above $200, LTC might have a little more consolidation.
I just drew a projection. That is a 60% probability target. It is also in line with the accending wedge.
Good luck all. and thanks for your support and comments.
Trade closed: stop reached
So LTC didn't make it to my second target. It made it to the first target of 212.60 and moved up a little more. I moved my stop up in case of a steep decline, still dealing in USD$. I was stopped out at 211.99 and looking to re enter. It was a profitable trade but im looking to make more LTC not USDs. Still... you got to take what the market gives you.Next area of support is 199.60. I will be entering 1/3 position with a tight stop. If it crosses 212 and move up again, it will be considered a break-out of the structure.
For now, I did take a couple trade but sitting in cash for the most part.
Thank you and good luck all.
Trade active
Got to love cryptos. 12 hours later, targets get hit. I refilled a full solid position at 208 - 206. THere were some big orders and algos moving around but they were trying to get filled, i just stay in front of them. Placed my orders with all my USD, i wake up and we are soaring. The breakout has happened now that support is above 212. Stops are again at 211.99. I trade short time frames like 3 and 15 min. With BTC breaking out, and BCH I'll bet trading between the pairs and not trade for USD.
Thanks for reading, Ill be posting the LTC/BTC and BCH/BTC charts in a bit.
... I just sold LTC for USD to buy BCH, Stay tuned.
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