Litecoin
Éducation

Potential scalping set up for litecoin

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If you've seen my previous analysis about litecoin which came up near the APEX and the golden pocket zone https://www.tradingview.com/chart/LTCUSD/rfCQhkb9-Litecoin-is-at-the-golden-pocket-Break-out-play/ , you will realize that based on current chart, the price has broken down the support zone on daily chart and it means that we could short it. but wait, remember the break out rules which says that every support or resistance which has been broke, there will be 1 more action to retest the previous support or resistance as a confirmation. in this case, I saw the possible long set up for scalping potential. Beside, I see a bullish divergence has occur on 1 hour chart.

I will open long position when the price can break out of current resistance trend line and targeting minimum to .382 fibonacci retracement area.

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