Litecoin / BitcoinShort
LTC Short
Updated
Swing Trade (D, 240)
Price broke the important level at 0.0093 and we have 2 more incidents that show price tries to go above this level and rejected badly. This is one important sign that we can short this with perfect timing. We have another important level to watch for i.e 0.0085 price level because once we breached this level and typically price didn't go below that so, this price level is holding strong as we can see a Range bound. If this level break with strong power then we can grab a cigarette. As we have to correlate with BTC I smell BTC has strength thus LTC weakens. If BTC has the weakens then we can expect a spike.
Entry: 0.009
TP: 0.0078
Stop loss: 0.01
Position Size: 1% Risk on your capital/800
Risk/Reward: 1:3 So, HH RR.
If TP is hit then we will be at 15% profit.
Buy from Sellers and Sell from Buyers.
Price broke the important level at 0.0093 and we have 2 more incidents that show price tries to go above this level and rejected badly. This is one important sign that we can short this with perfect timing. We have another important level to watch for i.e 0.0085 price level because once we breached this level and typically price didn't go below that so, this price level is holding strong as we can see a Range bound. If this level break with strong power then we can grab a cigarette. As we have to correlate with BTC I smell BTC has strength thus LTC weakens. If BTC has the weakens then we can expect a spike.
Entry: 0.009
TP: 0.0078
Stop loss: 0.01
Position Size: 1% Risk on your capital/800
Risk/Reward: 1:3 So, HH RR.
If TP is hit then we will be at 15% profit.
Buy from Sellers and Sell from Buyers.
Trade active
I am taking out partial profits and rest of my position to stop loss.Trade active
Trade closed: target reached
TP Hit, gauge the momentum and then close the trade.
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