CharlieTrout

Low probability, high reward, low risk LTC / USD set up

Long
KRAKEN:LTCUSD   Litecoin / U.S. Dollar
Short term resistance level on the 1D has been hit and has acted as support, with the 25 MA also adding support at the same level. There has been a large sell of recently of LTC / USD and one would expect a bounce here. A trend of repeated higher lows also adds confluence and a level of support, so a bounce seems imminent. There are no strong resistance levels near to this level, so the potential upside may be larger than the first level indicated. Entering Trade here.
Comment: Trade stopped out. Shame as move up followed.