Sephiroth4269
Long

Return to Decline? LTC

COINBASE:LTCUSD   Litecoin / U.S. Dollar
Well folks it has been a bracing few days, hopefully you all managed to make some money and watch your trading styles! As for me I managed to surprise myself with a few new tricks that I will be adding to my retinue! For now though I want to talk about the coming trend in the next few days! I believe we are going to be declining for the next few days on our merry way to either February lows, or End of April lows. The indicators are definitely hinting that we have been hitting our RSI peak for several days in a row, and we can look forward to the healthy draw down!

I would look for 1 or 2 major legs amounting to 20-30% so plan accordingly! Of course I could very well be wrong and yet another 10-20% hike up is very possible. Which is why I am setting my signals to $76, and $122 respectively!

So I mentioned a "trick" and that trick is more or less taking a logical approach to trading. There will be highs and lows no matter the actual value of an asset. There are reasonable "low" levels that can be hit and "high" and I acted accordingly making a fair amount of profitable trades along the way! I am hedging my position for the leg down versus the leg up! Most other analysts also seem to agree that the most likely direction at this point is down!

As always tell me what you think and hopefully these insights help!
Comment: Well I didn't add this before, but i should have included that we would double top before anything else... which we did to 106. The 4H bars are also much smaller thankfully which hopefully means we are back on track to downward channel. This parabola aint over yet, but i also dont think we have dropped far enough to complete the much larger double bottom of $64
Nice indicator buddy !
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Sephiroth4269 Bullandbeartrading
@Bullandbeartrading, Thanks, now to build the time machine that tells me I'm correct all the time haha.
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Well I didn't add this before, but i should have included that we would double top before anything else... which we did to 106. The 4H bars are also much smaller thankfully which hopefully means we are back on track to downward channel. This parabola aint over yet, but i also dont think we have dropped far enough to complete the much larger double bottom of $64
+1 Reply
Looks fine, i have similar thoghts.
+1 Reply
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