rony.kris

Pennant formation - Watch for the breakout

Long
BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
LTC is in a pennant ; similar to an ascending triangle formation. To me this is an indication of a bullish continuation pattern. If it breaks out of the ascending triangle then you may expect a decent bull run.

That said, my trade setup would be something like this -
Post confirmation:
Buy @ 334 - 338
Target ~438
Stop Loss ~300

Please feel free to revert with feedback. Thank you!
Trade active
Trade closed: stop reached