thecryptospace

Litecoin Trade Ideas - Long & Short

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
LTCUSD has presented us with a brilliant looking trade scenario.

Price is trading in a pennant , and will eventually break to the upside or downside.

General rule suggests pennants of this form will break to the upside, but LTC may be due some downside to meet a key level, so we keep the possibility open.

If price breaks to the downside, 180 pips downside towards $70.60 will be due.
On the contrary, an upside break of the formation will provide a 600 pip long opportunity.

The best entry here would be upon a retest of $74.00 - targeting $80.25 for profit taking.

Trade safe & manage risk!
Sep 24
Trade closed: target reached: Perfect $74 retest provided an amazing entry for a 180 pip downside move.

Absolute success!
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