LTO is already in a strong uptrend which why trend continuation plays the best option.
For this I will use the moving Averages: GREEN(10), ORANGE(20)Purple(50), BLUE (100), RED(200)
We see how the green and orange ones are pressing the price down. Once the price reclaims the 10 and 20er moving averages the trend is confirmed as bullish again, and we can define our risk below previous swing low.
For this I will use the moving Averages: GREEN(10), ORANGE(20)Purple(50), BLUE (100), RED(200)
We see how the green and orange ones are pressing the price down. Once the price reclaims the 10 and 20er moving averages the trend is confirmed as bullish again, and we can define our risk below previous swing low.
Comment:
with waiting for this situation we elemenate the risk of a deeper retracement because probability stil exists that price will test the 50 (purple) Moving Average/Pivot Level.