This trading idea is based on a breakout over a local swing high following a continuation of the upward trend. After the last rally,
LTCUSD
has stabilized around SMMA50 and is getting ready for a next swing. Place your buy orders above 289.00 to confirm the upward trend and take profit at 1.618 fib (500.00). For short term traders interim profits can be taken at 370.00 level. Place your stop-loss at 275.00 in case the pattern breaks (orange boxes). This trade is especially suitable for inexperienced traders given its low risk/profit ratio. Enjoy!
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mRSI
LTCUSD
has stabilized around SMMA50 and is getting ready for a next swing. Place your buy orders above 289.00 to confirm the upward trend and take profit at 1.618 fib (500.00). For short term traders interim profits can be taken at 370.00 level. Place your stop-loss at 275.00 in case the pattern breaks (orange boxes). This trade is especially suitable for inexperienced traders given its low risk/profit ratio. Enjoy! Dear friends, if you like my ideas and would like to support me, your tip in LTC is greatly appreciated: LeGMEKMAdoKfUiYSYsyCQi55NFFiWZbDHn
mRSI
Trade closed: stop reached:
Our stop-loss has been hit. Therefore it is critical that you enter only once the continuation pattern has been validated (level 289.00 in this case). We will have to wait for setup (289.00 will still be an important milestone).