I rarely go long on a down trending slope. But you can see that since the lows on February 6 LTC has moved up from the 25th to 50 to 75th percentile lines each time gaining support on the higher line. This is bullish behavior within a down trending line. Use the 25 centile line as a stop. The parallel line that I have drawn may be slight resistance but given the strength seen in the last few hours, I think it is unlikely.
Remember this is not like in December. Overall we are still in a downtrend. I am not using leverage. I will use tight stop management and take profit soon. We are due for a downward movement within the next few days. You must be much more cautious than before. It is easy to make money in a bubble. This is different .
Remember this is not like in December. Overall we are still in a downtrend. I am not using leverage. I will use tight stop management and take profit soon. We are due for a downward movement within the next few days. You must be much more cautious than before. It is easy to make money in a bubble. This is different .
Commentaire:
On the one minute chart you can see resistance becoming support
Trade fermée: cible de profit atteinte:
entry at 178. trade closed at 212..18 percent profit in 7 hours.
I will consider a re entry if it looks like it is bouncing off the upper parallel of the descending fork
I will consider a re entry if it looks like it is bouncing off the upper parallel of the descending fork
Commentaire:
Blue arrow marks where I closed the long LTCUSD trade. Now you can see price falling through the uptrending fork. But its downward trajectory can be followed with this new downtrending fork. This correlates with the fall in BTC and ETH.
