Dear community,
I keep it very short and crisp before releasing us all into the weekend. With market opening of the Litecoin I will open a long position, initially targeting a price area between 68.00 and 70.00. I believe the price will eventually go higher than that but I like to keep my trading compact and use the swing within the moves.
A perfect stop could be placed just below the wave IV. With that in mind; the correction (wave IV) could still be in the making but I rate this to be unlikely at this stage. However, if this is the case the price could drop lower than the last low in the wave IV before pulling back up for new highs. Just for you to keep in mind.
I will keep updating this analysis with my trading activity. If you would like to get notifications on it feel free to like my trading idea or follow me.
Thank you and good luck!
Alysson x
I keep it very short and crisp before releasing us all into the weekend. With market opening of the Litecoin I will open a long position, initially targeting a price area between 68.00 and 70.00. I believe the price will eventually go higher than that but I like to keep my trading compact and use the swing within the moves.
A perfect stop could be placed just below the wave IV. With that in mind; the correction (wave IV) could still be in the making but I rate this to be unlikely at this stage. However, if this is the case the price could drop lower than the last low in the wave IV before pulling back up for new highs. Just for you to keep in mind.
I will keep updating this analysis with my trading activity. If you would like to get notifications on it feel free to like my trading idea or follow me.
Thank you and good luck!
Alysson x
Comment:
CAREFUL now. The cycle could be complete now, starting another correctional a-b-c wave. Once this is complete I'll be looking to go long again.
I will try another long entry once the correctional A-B-C sequence has been completed. Patience is key!