Do we see a reversal here and will LTC outperform BTC?
On the lower timeframes 1h and 4h we saw already a reversal 20 EMA crosses up the 50 SMA.
If The 20 EMA crosses the 50 SMA on the daily candles we will see a clear start of a new uptrend for LTC against BTC.
On the .236 fib we see some major resistance:
- The .236 fib level.
- The 200 SMA.
- And always look left.
If we can break this level we could find some major support here.
My targets for the long run:
.004683 (.236 fib)
.005333 (.382 fib)
.005858 (.5 fib)
.006382 (.618 fib)
.007130 (0.786 fib)
.008082 (1 fib)
I will take 30% profit around every fib rule and buy it back when it hits around the previous fib rule or makes a reversal. Example, when it hits .382 fib I will sell 30% and buy it back when it hits the 0.236 fib or makes a reversal. To be clear. In 80% of the cases I don't have auto buy or sell orders. Most of the time I use alarm signals based on support and resistance + fib rules.
StopLoss,
I don't have a Stop Loss right now on the LTC/BTC pair. My Stoploss is on my LTC/USDT pair.
If we move above the .236 fib I will move my Stop Loss to this pair and put it around .00445
!!! Never loose a winning trade !!!
Sheers,
On the lower timeframes 1h and 4h we saw already a reversal 20 EMA crosses up the 50 SMA.
If The 20 EMA crosses the 50 SMA on the daily candles we will see a clear start of a new uptrend for LTC against BTC.
On the .236 fib we see some major resistance:
- The .236 fib level.
- The 200 SMA.
- And always look left.
If we can break this level we could find some major support here.
My targets for the long run:
.004683 (.236 fib)
.005333 (.382 fib)
.005858 (.5 fib)
.006382 (.618 fib)
.007130 (0.786 fib)
.008082 (1 fib)
I will take 30% profit around every fib rule and buy it back when it hits around the previous fib rule or makes a reversal. Example, when it hits .382 fib I will sell 30% and buy it back when it hits the 0.236 fib or makes a reversal. To be clear. In 80% of the cases I don't have auto buy or sell orders. Most of the time I use alarm signals based on support and resistance + fib rules.
StopLoss,
I don't have a Stop Loss right now on the LTC/BTC pair. My Stoploss is on my LTC/USDT pair.
If we move above the .236 fib I will move my Stop Loss to this pair and put it around .00445
!!! Never loose a winning trade !!!
Sheers,
If you like my scripts/ideas please donate some coins to share your appreciation.