ForecastCity
Long

There is a possibility for the beginning of an uptrend in LTCUSD

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
Technical analysis:
. LITECOIN/DOLLAR is in a downtrend and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 37.
. While the RSI and the price downtrend in the Daily chart are not broken, bearish wave in price would continue.

Trading suggestion:
. There is a possibility of temporary retracement to suggested support zone (57.70 to 49.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (57.70)
Ending of entry zone (49.50)

Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing", "Hammer" or "Valley" in other words,
NO entry signal when the price comes to the zone BUT after any of the reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:

Take Profits:
TP1= @ 66.00
TP2= @ 73.25
TP3= @ 81.10
TP4= @ 90.25
TP5= @ 111.00
TP6= @ 126.20
TP7= @ 173.75
TP8= @ 212.20
TP9= @ 250.60
TP10= @ 305.30
TP11= @ 375.00
TP12= Free
Trade active: Weekly update: TP1 hit with 4992 pip profit ...


Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (57.70 to 49.50). if so, traders can set orders based on Price Action and expect to reach short-term targets.

Beginning of entry zone (57.70)
Ending of entry zone (49.50)

Trade Setup:
We opened 12 BUY trade(s) @ 60.63 based on 'Valley' entry method at 08.27.2018.


Total Profit: 4992 pip
Closed trade(s): 537 Profit
Open trade(s): 4455 Profit

Closed Profit:
TP1 @ 66.00 touched at 09.01.2018 with 537 Profit.

Open Profit:
Profit for one trade is 64.68 (current price) - 60.63 (open price) = 405
11 trade(s) still open, therefore total profit for open trade(s) is 405 x 11 = 4455
All SLs moved to Break-even point.

Take Profit:
TP2= @ 73.25
TP3= @ 81.10
TP4= @ 90.25
TP5= @ 111.00
TP6= @ 126.20
TP7= @ 173.75
TP8= @ 212.20
TP9= @ 250.60
TP10= @ 305.30
TP11= @ 375.00
TP12= Free
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