LTC-USD
Falling Triangle in Reversal Setting LTC-USD My new bit of learning today has been that a falling triangle can be either bearish or bullish depending on the case. In this instance, I see LTC in reversal, ready to test overhead resistance after breaking out of this triangle.
I have shown the likely path ltc will take before it is squeezed to the upside.
RSI is neutral.
I am bullish on LTC and BTC long term.
This is clearly not advice. This is for my own practice and reference as a hobby trader.
Please dont be shy to critique.
LTC UPDATE!!!! Hi Traders,
New week for crypto. Over the weekend we've seen LTC push higher and make new higher highs and higher lows before more recently making a correction. Currently we're testing the 0.5 fib but we would like to see it retrace to the grey box 0.618/0.786 fibs as that is where we have seen solid previous supply.
Thanks
The Market Sniper Team
💡 Two buy opportunity in LTCUSD , Mid-Term & Short-TermTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (51.40).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. LTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 76.
Take Profits:
TP1= @ 56.30
TP2= @ 60.00
TP3= @ 64.00
TP4= @ 68.80
TP5= @ 79.82
SL= Break below S2
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Second Chance Trade Setup summary:
Profit targets=945% = {TP2= 10% + TP3= 25% + TP4= 46% + TP5= 67% + TP6= 106% + TP7= 134% + TP8= 189% + TP9= 368%}
Stop Loss = 36%
Reward/Risk > 26 : 1
New Trading suggestion:
". There is still a possibility of temporary retracement to suggested support line (50.65) again.
if so, traders can set orders based on Price Action and expect to reach short-term targets."
New Take Profits:
TP2= 56.05
TP3= 63.35
TP4= 74.35
TP5= 84.60
TP6= 104.45
TP7= 118.80
TP8= 146.55
TP9= 196.55
TP10= 237.40
TP11= Free
SL= Break below 48.75
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Current Status of First Buy:
Total Profit: 275%
Closed trade(s): 41% Profit
Open trade(s): 234% Profit
Trade Setup:
We opened 11 BUY trade(s) @ 43.75 based on 'previous Forecast' at 09.24.2020:
Closed Profit:
TP1 @ 50.65 touched at 10.11.2020 with 13% Profit.
TP2 @ 56.05 touched at 10.22.2020 with 28% Profit.
13% + 28% = 41%
Open Profit:
Open trade is 55.30 (current price) - 43.75 (open price) = 26%
9 trade(s) still open, therefore total profit for open trade(s) is 26% x 9 = 234%
Technical analysis:
. LTCUSD is in a range bound and the beginning of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 69.
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LTCUSD - ABCD Bearish Pattern Confirmed SHORTThere is a high chance of further price reduction right now for LTC because of confirmed ABCD pattern formation on the 4 hour chart. However I am very bullish on LTC mid-longterm so this is a risky trade setup but the RR is good and I like how the ABCD pattern is very nicely formed - within proper FIB levels.
Take profits at the different FIB ratios then move StopLoss down to entry level after first TP is done. Do not over leverage and have fun! Good Luck :)
PS.
I am not licensed to provide financial advice and I am not responsible for any losses you may incur by following my ideas. Like and follow if you want to see more from me peeps!!!
Out -
WineTrader888
Hockey analysts estimate that the price of Bitcoin will break $ After being neutral in the blue channel, Bitcoin decided to break this neutral channel upwards, forming a pink incremental channel, and breaking the black arrow lines drawn from the highest and lowest points of the recent channel. Pink breaks and the two resistances 12029 and 12446 also break, and these reasons show that Bitcoin is bullish. On the other hand, the 9-day moving average indicator is 20-day moving average and the 50-day moving average is below this 9-day and 20-day moving average. It is predicted that by the end of 2020, the price of Bitcoin will break the channel channel of 14,000 thousand dollars