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LTC appears to have a put in a bottom bouncing twice off the 200EMA (Green Line) and 78.6 Fib Retracement (Overlaid in Black).
It has then broken the 150.31 Horizontal level (Red Line) and came back to retest. This has Formed another pattern (Advance through the level, Come Back to the level, and Continue in the original direction.
We are looking for an entry above yesterdays green bar around $165.00 CRUCIALLY this level will also signify the break of the (overlaid in light blue). This set up is tempting on a shorter timeframe but new traders should ignore it due to the possibility of entering in the channel and being bounced out from the channel top.
Entry is $165.00, with SL if aggressive at $147.00 and if Conservative $140.00, Targets are $197.00, $239.00 and $269 (The Blue Lines)
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We bought at bottom of breakout now sell high.
Enjoy your profits.
This has been 1 of many profitable trades to come.
Next target $239.00
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Remember as this trade goes up use trailing stop losses, this way you don't need to be glued to the screen. I sold some of my position at first target when reached at $197.00
Now my stop loss is set at $197.00 so i can relax and enjoy profits on way to next target.
Never be greedy always make sure to collect profits along the way we do this to make a living so make sure you get paid!
Each target I always follow the same routine in any trade.
We still look strong on this trade.
We have lost some momentum on this trade with Bitcoin movements BUT LTC volume is still good.
Not only does Dollars and Senses give you quality analysis first, but we give you the trade details so you can bank the Profits.
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