It's time to prepare for a breakout and I have laid out my trading strategy in preparation for the big event. Right now is a good time to hedge and cover yourself from both sides to avoid any exposure and risk. The short position will liquidate when the price of LTC doubles (around 120$ from current price); however we know LTC will go higher if a breakout from this pennant occurs. Hold onto the long position and it will be very profitable. Once the breakout is confirmed you may close the short position earlier. The short is necessary to protect against a downfall to the 40-30$ range. The goal is to layer more long positions as LTC drops and to accumulate as much as possible.
Comment:
Finally hit the second target. We will continue to hold!