Been riding this entry since $34, the halving pump has meant it could be traded bullishly all the way, i was expecting one final parabolic move to $170-$200 but we cant be too greedy considering the amazing gains its given all the bulls.
LTC has formed an evening star pattern on the daily which is a strong reversal pattern, granted it might just reverse $10-$20 then continue with parabolic moves up, but my current exit strategy is im anticipating a bounce at $121 levels where we made decent resistance previously, im hoping to sell this bounce as soon as it starts to show signs of a dead cat bounce
eg when it bounces from $121 if it starts to stall at $128 that will be my sell signal and the end of a very good long bull run for me.
im also putting a hard SL just below $121 in case there is no bounce and we just have violent drop.
Good luck traders.
LTC has formed an evening star pattern on the daily which is a strong reversal pattern, granted it might just reverse $10-$20 then continue with parabolic moves up, but my current exit strategy is im anticipating a bounce at $121 levels where we made decent resistance previously, im hoping to sell this bounce as soon as it starts to show signs of a dead cat bounce
eg when it bounces from $121 if it starts to stall at $128 that will be my sell signal and the end of a very good long bull run for me.
im also putting a hard SL just below $121 in case there is no bounce and we just have violent drop.
Good luck traders.
Trade closed manually:
Thankfully the pullback didn’t happen and we didn’t reach our sell zone, so this set up is now void and I remain long on Ltc for now.