After many years of training long hours and reading lots of books about trading I still manage to fall into the state of FOMO. or Fear of Missing Out. It's hard not to get caught up in all the hype at the moment about Litepay and Litecoin. I want to buy more LTC but it cannot be here at this level. So I have planned how to trade this and what to trade LTC against even though one would imagine that BTC would be the stronger of the pair so that would favour LTCVUSD. This is why it's so important to trade plan and taket the trade or just wait for another train. I like LTC at the 50% level of this last move that signifies a COT or a change of trend on the 4hr time frame - good enough for me to take a risk - as my bias is bullish so I will only be buying. Price has reached resistance and we have seen a significant leg up in the last few days from the low at $106 to the high at $252. The reason I cannot buy here is because we have achieved our first profit target 200% fib extension - buyers beware. At the 50% level of this last move fib or swing is also the last swing high before price made one last leg down before reversing. I am looking for a test of this area to the left(role reversal) of my (A) to mitigate my risk. The fib extension of this level is 227% 161.8% and 381.8 (a nice cluster of resistance) $297 then $359 = 93% profit. A nice little trade and profit a reward for being patient and that buys you a lot of confidence to bank for life. Just my plan and in no way is this to be construed as advice or signals.
Trade closed: target reached
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Price has reached our 1st level of support - time to see what occurs on our lower time frame - say 2hr or hourly to look for a sign a change-of-trend or a 1-2-3 pattern. Stay tune.
Trade closed: target reached
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Price hit support and headed up. We have not reached the projected target and price is consolidating. No signs say the trade or plan is over.
What sense to sell the coin before litepay, what sense to sell it after? You can use the technology and get more profit at the long run. You can open your mobile banking and check % of fee when you pay your card or take the money from atm. Yes your chart makes sense, but how much time you’ll have for rebuy? Orders? If you trying to buy cheaper for a few bucks you don’t have them. Or you can see technical work, or no internet:) you will be angry after. Sometimes you need to earn and sometimes you need to use. You here not only for profit the main part of you want to change the 99% tax. Have a nice day, every road will come to the end:)
@gillianpatrice, And my plan has worked - I didn't say sell I said wait to buy.
mightytrader
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Just pray to The Lord Jesus Christ and he will quell your greed! Fear The Lord... not the FOMO or LUSTTTtt-ttttt-tttt for wealth and the wicked dollar $$$
Just shout his name out loud before you click buy, "JESUS!!! Save me from my greed and lusttttt!!"