Litecoin Breaking OUT of FLAG
Litecoin is breaking out of it's bull flag. A nice pattern that formed after the run from 52 to 55.
That run from 52 to 55 was the result of a long consolidation from 24 August.
There is a lot of buying pressure behind this move so I fully expect it to reach my target of 59-60 .
Entry: above 55
Target: 60 (100% measured move from breakout at 52-56 = 4 points)
Stop: below flag at 54
Great Reward to Risk: 4:1
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
That run from 52 to 55 was the result of a long consolidation from 24 August.
There is a lot of buying pressure behind this move so I fully expect it to reach my target of 59-60 .
Entry: above 55
Target: 60 (100% measured move from breakout at 52-56 = 4 points)
Stop: below flag at 54
Great Reward to Risk: 4:1
--------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Note
Nice pullbacks and continuation on this run. Adding some more. Looks strong.
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
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Support me with these referral links:
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.