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!
Hey Rony, sweet call. Unfortunately not all trades workout as TA predicts. For this one you may have wanted to look at more increasing volume leading to the breakout for further confirmation
rony.kris
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@ecoinamist,
You bet, that was the learning from this setup. Good to have you back.
ecoinamist
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@rony.kris,
Glad you're learning. How is the trading world treating you?
rony.kris
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@ecoinamist,
It's been good. There has been lot of learning since the last couple of months. Liking it and having fun. It feels great to see a prediction come true and feels equally nasty when it turns the other way. I guess that's the way it is. I'm sure there is lot more to understand and learn. The process is on. But I do not get much time to devote to this. That sometimes makes me feel bad. Also, results in losing out on trades and updates. However, trying to cope up with the time challenge as best I can.
If I may ask, which time zone do you hail from? I am from India and cryptocurrency is still at a very nascent stage of acceptance here.
Do drop a note whenever you get time. Have good one!