Alekznder
Short

Trade #1 - LTCUSD - Short the FOMO

BTCE:LTCUSD   Litecoin / U.S. Dollar
UPDATE 1 - Closed 50% at $2.80. Base now $3.10
UPDATE 2 - Closed remaining at @2.72. The trade is closed.
UPDATE 3 - Trade went $3.00 -> avg             . $2.76 = 8.7%
I exited due to potential double bottom on BTC             and btc-e creating new larger flag on LTC.

Welcome to my own 100 trade journey. Posting these so that I can look back in the future.

(Small note: I suck at drawing charts atm still getting used to all the drawing tools.)

Entry @ $3.00
Target @ $2.50 ish            
Stop @ $3.20

I'm not entirely comfortable entering this trade at $3.00, obviously somewhere around $3.10 would be great.

Breaking out with volume to the topside would exit the trade and I would consider going long depending on BTC             conditions.

Reasons
  • Litecoin is garbage, even the MM knows this.
  • Shorting the larger down-trend.
  • Expecting at least some pullback.
  • Flag getting tighter.
I'm not sure if there is a way to timestamp my updates but this tweet is good: https://twitter.com/Crypto___/status/613910248064028672
Reply
Nice one.. but remember you're playing against BTC-e :)
+1 Reply
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