Good evening,
So, LTC is in the middle of a retrace. I have redrawn my support and resistance lines but do you know what I forgot. To put my SL at the new level so I got SL out at 167. You live and learn.
At this point in time even with LTC dropping to 165 I do not think that is a deep enough drop. So, it needs to test my last line of support or go sideways tomorrow on the lower time-frames. I want to see it test the 162-158 and bounce from there with purpose. If we do not get this type of price action, I fully expect a surge then drop to the 130's or lower.
Be a hyena.
Not financial advice, just my opinion.
So, LTC is in the middle of a retrace. I have redrawn my support and resistance lines but do you know what I forgot. To put my SL at the new level so I got SL out at 167. You live and learn.
At this point in time even with LTC dropping to 165 I do not think that is a deep enough drop. So, it needs to test my last line of support or go sideways tomorrow on the lower time-frames. I want to see it test the 162-158 and bounce from there with purpose. If we do not get this type of price action, I fully expect a surge then drop to the 130's or lower.
Be a hyena.
Not financial advice, just my opinion.
Comment:
Down day may do some small swing trades
Comment:
IF 150 does not hold we will see low 140s
Comment:
No trade day. I am waiting until after the 11th to make my decision as to whether I will short or not; that is mostly likely the breakout point.
Comment:
Ummmm hugely bullish candle on the daily being formed.
