LITECOIN How to TRADE
Updated
LITECOIN is going to break out of this consolidation pattern in the next day or so. The Volume is decreasing and no MAJOR bear volume which is a positive sign. The Daily MACD has potential to cross over so perhaps wait for this cross as further confirmation.
The 4 hour macd has already crossed bullish but IMO i think we may see one more reject from the resistance line is order to give the 4 hour rsi a little bit more room to run.
Personally im waiting for a reject off the resistance line a pull back then i will buy in 252 approx range. This is risky.. If you want to be more cautious wait for a break of the resistance line and look for INCREASING BULL Volume on the 15 minute timeframe. Volume is your best indicator here to gauge if we are going to get follow through.
Stoploss @ 217
And Profit Zones A for 75% and maybe leave 25% on the table for profit zone B. OR increase your stoploss if we break profit zone B and let it run.
The 4 hour macd has already crossed bullish but IMO i think we may see one more reject from the resistance line is order to give the 4 hour rsi a little bit more room to run.
Personally im waiting for a reject off the resistance line a pull back then i will buy in 252 approx range. This is risky.. If you want to be more cautious wait for a break of the resistance line and look for INCREASING BULL Volume on the 15 minute timeframe. Volume is your best indicator here to gauge if we are going to get follow through.
Stoploss @ 217
And Profit Zones A for 75% and maybe leave 25% on the table for profit zone B. OR increase your stoploss if we break profit zone B and let it run.
Trade closed: stop reached
We broke out of wedge but in the wrong direction :(
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