LTC/BTC 1D (Binance) Falling wedge & facing strong support
Litecoin is looking quite bullish in satoshis, so event if BTC drops after halving this trade could play out well.
Buy Entry= 0.005235 - 0.005055
Take Profit= 0.005731 | 0.006227 | 0.006895
Stop Loss= 0.004559
Risk/Reward= 1:1 | 1:1.85 | 1:2.99
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -11.39%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
Buy Entry= 0.005235 - 0.005055
Take Profit= 0.005731 | 0.006227 | 0.006895
Stop Loss= 0.004559
Risk/Reward= 1:1 | 1:1.85 | 1:2.99
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -11.39%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
Comment:
Almost back to entry, now facing descending channel resistance, if breaks out we all now what will happen next...
Trade closed: stop reached:
SL hit with -16.03% from average entry
This trade is taking way too long and already was invalidated.
I should have closed it in profit back in August, but I prefer to avoid further loss now.
This trade is taking way too long and already was invalidated.
I should have closed it in profit back in August, but I prefer to avoid further loss now.
I had to redrew a little bit but the idea and targets remain the same.
Risk/Reward= 1:0.68 | 1:1.26 | 1:2.04
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -16.70%