We have seen push after push on LTC over the past few months with plenty of signals for a retrace and just not getting it. We generally get bound up in a tight range after each pump and eventually volume spikes as the indicators chill out on the daily and we are off again to the next level of consolidation.
Our algo still spitting out exhausted trend signals as we tighten up into yet another range.
Anyones guess again weather we break down from this range now for a solid retrace from the overall uptrend, or we break up again for another run to the next target around .0209.
We will be playing this as a break out trade with 2 accounts on mex, when we hit support we enter a low lev long with stops below, when we hit resistance we enter a low lev short with stops above, either way the next move should be around 20% so we can afford to run a 5x lev either way have one stop at 20% while the other rolls to a potential 100%.
The other option is to run buy/sell stops but your going to potentially miss another 8% of the trade in that range..
Close the wrong trade on the break simple.
Our algo still spitting out exhausted trend signals as we tighten up into yet another range.
Anyones guess again weather we break down from this range now for a solid retrace from the overall uptrend, or we break up again for another run to the next target around .0209.
We will be playing this as a break out trade with 2 accounts on mex, when we hit support we enter a low lev long with stops below, when we hit resistance we enter a low lev short with stops above, either way the next move should be around 20% so we can afford to run a 5x lev either way have one stop at 20% while the other rolls to a potential 100%.
The other option is to run buy/sell stops but your going to potentially miss another 8% of the trade in that range..
Close the wrong trade on the break simple.