so just for fun and as a educational excercise. Target range is only $10 away anyways :)
There's a bullish Chuvashov fork on Litecoin USD pair. I find it to be simple, yet very effective and easy to use tool.
1. Identify downtrend (or uptrend).
2. observe downtrend break.
3. See if you have find a forkline forming.
4. Aggressive entry on forkline break.
5. Safe entry (if you get one) on forkline bounce / retest.
6. Use Fib retracement for target estimate (i like targeting 0.618)
7. (optional): see if there's a supportive pattern / indicator present - we have bullish RSI divergence and swing pattern failure in this case. Could alternatively be be iH&S, ascending triangle or other bullish pattern forming in the bottom range.
and that's it.
Let's see if this one plays out now :)
There's a bullish Chuvashov fork on Litecoin USD pair. I find it to be simple, yet very effective and easy to use tool.
1. Identify downtrend (or uptrend).
2. observe downtrend break.
3. See if you have find a forkline forming.
4. Aggressive entry on forkline break.
5. Safe entry (if you get one) on forkline bounce / retest.
6. Use Fib retracement for target estimate (i like targeting 0.618)
7. (optional): see if there's a supportive pattern / indicator present - we have bullish RSI divergence and swing pattern failure in this case. Could alternatively be be iH&S, ascending triangle or other bullish pattern forming in the bottom range.
and that's it.
Let's see if this one plays out now :)
Order cancelled:
yuck :) got nuked by BTC move quickly ;)