LTCBTC potential for up to 40% LONG after pullback

I'm keeping an eye on LTCBTC at the moment as it has broken out of a downwards channel. I am expecting a pullback to support before we move higher. Most of the market is looking bullish at the moment, so this will help. At this stage it's just on the watchlist, but we will look for an entry.

ENTRY - 0.00707212
TP1 - 0.00850979
TP2 - 0.00980297
SL - 0.00666754

R:R - 1:7.39

Trade active:

I'm going to mark this as active purely because those wicks hit my ideal entry point, however I didn't get a chance to take a position. I'll keep updating this one for those of you that managed to get in. If your order filled, you are already in profit. I wouldn't move my SL up just yet until we clear some structure.

Comment:

After a fast bounce in my ideal entry zone, LTCBTC has bounced nicely and picked up almost 13% profit. It's running into a bit or resistance at the old rejection zone, but considering the overall direction of the move, the good pullback, the long wicks to the bottom - I'm pretty confident that it can clear this zone and make way to my first TP.

Comment:

As a side note, I always move my SL up to protect my profit, I just wait a little to clear some structure before I do so. Trade safe!

Trade closed: stop reached:

Hopefully everyone is trading safe in all of these markets and moving stops up as they can. This trade has unfortunately turned on us!

Let's find the next one.