Are the BULLS finally AWAKE?
Hello everyone! You guys know that I’m still keeping some LTC, since our last trade. We bought it around U$ 41.40, on April 22, and you can check it accessing the link of my analysis bellow. If you missed it remember to follow me to keep updated of our trades and analyses.
LTC hit the 38.2% fib retracement and entered on "the sleep mode". The 21 ema and the previous top (red line) did a good job supporting the price, and now it seems it’s doing a Bullish Engulf. If it closes above the fib retracement it will be awesome, and I’m thinking in buying more.
Let’s take a look at the hourly chart, as usual:
We should be aware of that black line! It was support / resistance in the past, and let’s hope it will not hold the price for too long. If the price closes above that line will be another great sign.
Also, let’s look the weekly chart:
There’re two resistances here, the 21 ema and the fib retracement (as in the daily chart), so the bulls should be careful. But I’m still optimistic here, let’s see how it will turn out.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
LTC hit the 38.2% fib retracement and entered on "the sleep mode". The 21 ema and the previous top (red line) did a good job supporting the price, and now it seems it’s doing a Bullish Engulf. If it closes above the fib retracement it will be awesome, and I’m thinking in buying more.
Let’s take a look at the hourly chart, as usual:
We should be aware of that black line! It was support / resistance in the past, and let’s hope it will not hold the price for too long. If the price closes above that line will be another great sign.
Also, let’s look the weekly chart:
There’re two resistances here, the 21 ema and the fib retracement (as in the daily chart), so the bulls should be careful. But I’m still optimistic here, let’s see how it will turn out.
Remember to follow me, I’m a trader who uses the classic technical analysis (barely any indicator, just the candles and the volume). Like this idea if it helped.
Thank you very much.
* LIKE this idea and FOLLOW me, because:
- Here, you will see clean charts;
- Trades with clear risk management;
- The best of Dow Theory, Price Action and Candlestick psychology;
- Chart patterns with statistics. *
* My name is Nathan, I'm a trader and portfolio manager and I'm here to LEARN. Leave your COMMENT and FOLLOW me to keep in touch. *
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