LTCUSD Technical Analysis 4 hour - Buy opportunity

30 thg 11, 2018

Hi there.

Current state:

Entering trade a $33.94. Good luck!

Indicators/Charts analysis:

• RSI: is neither overbought or oversold. It is currently trending up. I think this is a bullish indication
  
• Stoch RSI: is on its way down. K at 39. It may come down a little bit more further pushing the price down (hopefully enabling our entry point).
  
• Bollinger Bands: We went to the top of the band, made a correction and have been moving laterally. This is also a good bullish indication signaling there is a good probability we will continue with the current trend.
  
• EMAs: 12 has crossed EMA 26 and 50. Price currently moving on top of EMA 12. Movement on the averages has been mostly lateral. This is the short term price consolidation.
  
• Awesome Indicator: Indicator on the bearish side. I am using the rest of the indicators to interpret this as price consolidation.
  
• Volume: Volume has not been above MA 26 which is disappointing, but it has not been low either. This would signal consolidation. If volume was high we would be on a breakout already.
  
• Renko: We have now 3 green bricks trending up. In most instances after trending 3 bricks, there is at least a 4th one on our way (not always but most of the time)
  
• Renko RSI/Stock RSI: Both indicators are exiting oversold conditions. This supports further movement in the up direction.
  

Stop Loss:

$33.35 - Pretty tight since I am not sure we are about to have a more aggressive correction after LTC rebounded nicely..

Target:

$35.88 (+5.7%) - I am using the previous 4 hour high as target.
May consider taking profit before or at a minimum setting a sliding stop loss.
Will likely monitor this throughout the night...I bet you do the same too!

Alarms:

None at the moment.

Conclusion:

Entering the train.
I am using the 15 min chart to find my entry point. I basically do the same analysis in the 15 min chart to determine when it is time to enter.
I have also looked at the day chart for a longer term indication. If you look in the daily chart you will see that down rallies usually last about 20 days...then there is a lateral move and a trend towards the middle of the band (on the day).
All of this makes me believe there is still room to go up.
This is somewhat a risky trade so my stop loss is tight.


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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**

30 thg 11, 2018

Giao dịch đang hoạt động

Sliding stop to 33.45

30 thg 11, 2018

Đóng lệnh: dừng lỗ