kumarz

07mar2019_BNBLTC-speclongonBNB

Long
BINANCE:LTCBNB   Litecoin / Binance Coin
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used tradingroom priceaction monitors to isolate BCN WABI and LTC : these have been green across the board, WABI is too small cap to be worth the risk. LTC appears to have led the general crypto pullback/rally since 12-14dec2018 but BCN appears stronger.
Sold LTC to buy BNB : looking at fibs, the rise from 3.45 to 4.26 is a retracement for which support at 0.764fib (3.64) has broken and I'm selling rises. Loaded some @ 3.64, 3.65, 3.70
3.75 will be 0.618fib and 3.86 will be 0.5fib at which I've also placed sells. Trade idea invalidated if it rises above 0.382fib (3.95) at which point LTC becomes a better hold than BNB against USD/ BTC .
Trade active: Against USD, BNB will have broken below 0.5fib around 11.5 around which I'll start reducing my position. Again looking to start taking profit around 18 which is going to be resistance.

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