Hi friends hope you are well and welcome to the new update on Litecoin.
On the long-term weekly time period chart, the price action of the LTC has completed the last leg of the bullish Shark pattern and entered in the potential reversal zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $0.003796 to $0.003447
Fibonacci projection or sell zone: $0.004177 to $0.004951
Stop loss:
The maximum extent of the potential reversal zone $0.003447 can be used as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 43.5%, and the loss possibility is 9.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
On the long-term weekly time period chart, the price action of the LTC has completed the last leg of the bullish Shark pattern and entered in the potential reversal zone.
Buying and sell targets:
The buying and sell targets as per the Fibonacci sequence of the Shark pattern should be:
Potential reversal or buying zone: $0.003796 to $0.003447
Fibonacci projection or sell zone: $0.004177 to $0.004951
Stop loss:
The maximum extent of the potential reversal zone $0.003447 can be used as a stop loss.
Possible profit and loss ratio:
As per the above targets, this trade has a profit possibility of 43.5%, and the loss possibility is 9.5%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.