LTCUSD is ranging in supplyzone but about to drop for 3:1 SHORT
OKCOIN:LTCUSD1W
Major demand and supply zones are highlighted in blue on the chart. Within the upper Major Supply Zone, LTC/USD is presently ranging between two internal minor supply/demand zones. The volumes and the momentum of the range is decreasing as the returns of scalping these two zones is being diminished with respect to broker fees. Long traders will sell and take profit causing the price to fall back to demand zone providing an ideal shorting opportunity with a potential $0.45 per contract profit with a 3:1 reward/risk ratio.
NOTE: The Chart is for 1 WEEK LTCUSD Futures - but the same principle applies to the spot chart they tend to mirror each other aside from minor price differences. Please adjust the Stop/Profit/Short price if you're not trading futures.
Major demand and supply zones are highlighted in blue on the chart. Within the upper Major Supply Zone, LTC/USD is presently ranging between two internal minor supply/demand zones. The volumes and the momentum of the range is decreasing as the returns of scalping these two zones is being diminished with respect to broker fees. Long traders will sell and take profit causing the price to fall back to demand zone providing an ideal shorting opportunity with a potential $0.45 per contract profit with a 3:1 reward/risk ratio.
NOTE: The Chart is for 1 WEEK LTCUSD Futures - but the same principle applies to the spot chart they tend to mirror each other aside from minor price differences. Please adjust the Stop/Profit/Short price if you're not trading futures.