Why I see potential in LTC to go higher from here:
1) LTC is breaking out of its wedge.
2) LTC will probably go through the major resistance of the 0.236 fib at 61.72
3) If it can close above the 0.236 fib on the daily candle it will become support.
My targets for the long run:
I will take 30% profit at every fib rule and buy it back when it hits the previous fib rule or makes a reversal. Example, when it hits .382 fib I will sell 30% and buy it back when it hits the 0.236 fib or makes a reversal.
StopLoss,
If we see some sell off or it does not close (on the daily candles) above the .236 fib then I have my Stop Loss at 58.9
I can get back in later if it hits my SL. Profit is profit.
Never loose a winning trade.
Sheers,
1) LTC is breaking out of its wedge.
2) LTC will probably go through the major resistance of the 0.236 fib at 61.72
3) If it can close above the 0.236 fib on the daily candle it will become support.
My targets for the long run:
- 77.56 (.382 fib)
- 103.17 (.618 fib)
- 121.41 (0.786 fib)
- 144.63 (1 fib)
I will take 30% profit at every fib rule and buy it back when it hits the previous fib rule or makes a reversal. Example, when it hits .382 fib I will sell 30% and buy it back when it hits the 0.236 fib or makes a reversal.
StopLoss,
If we see some sell off or it does not close (on the daily candles) above the .236 fib then I have my Stop Loss at 58.9
I can get back in later if it hits my SL. Profit is profit.
Never loose a winning trade.
Sheers,
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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.
If you like my scripts/ideas please donate some coins to share your appreciation.
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.