LTC - Looking for a scalp

Buy zone in the green box with a quick turn around, looking to make this purchase in the next couple hours, let's see how it goes!

As usual, if this chart receives 15 likes I'll keep updating it as opportunities present themselves. In regards to my long term holdings, I'm still short on LTC and BTC, but if the titanic is going down via a slow bleed, might as well profit off it!

Bình luận:

We may be witnessing a bull trap, trade carefully.

Bình luận:

My levels, obviously, did not hit. Currently, both LTC and BTC broke above the moving averages and are respecting them as support, I'm looking for BTC to go down to 14181, or if the moving average 20 continues to hold support, the 14260. We do have an hourly macd crossing, so I believe it will hit the lower boundary.

At which point I'll be looking to enter LTC @ 243, for a move up to the 258 range to fight the long term downtrend.

This play should coincide with BTC making a run towards 15k if it can break the 14500 resistance, either way, if the moving averages continue to act as support we're looking at some nice scalps. I'll update when trade is active.

Bình luận:

Important note, if the moving averages don't hold you'll get better buys at the fib levels, but you may miss out if they do hold. Risk/Reward up to you.

Giao dịch đang hoạt động:

Got a BTC buy @ 14001, did not get an LTC buy however, currently waiting new EMA/SMA @ 245. We have Multiple EMA/SMA crossings and the hourly macd crossdown was reversed in 20 minutes - LTC is very bullish right now. If we break above 260 I'll be entering, otherwise still awaiting to see if the oversold on the smaller timeframes creeps up and forces a dip to the moving averages.

Bình luận:

*Edit* Overbought rather in my previous comment.

Bình luận:

Disclosure, no confirmations of break above 260 so I'm looking for a buy at the lower EMA's again, BTC macd is currently moving up so we might have BTC takeoff, which could then boost LTC. Still not in LTC, but looking closely for a buy.

Bình luận:

30 minute candle close above the down trend with crossings, I have bought in, look for resistance @ 266 and for candle closes above it for next level. If 266 confirms have a good shot to 300. Watch downtrend line closely for potential breakdowns.

Trade carefully!

Giao dịch được đóng thủ công:

Made a few pips, I've closed both trades I don't like where BTC is at currently.

Bình luận:

Thankfully, if you were following my trade you would have not lost any money.

As I mentioned earlier on, this was a classic bulltrap, we can now resume looking for lower level buys. I'll be posting a new chart soon.