TrendSetups
Short

Litecoin LTCUSD - 1D - SHORT - Trend Entry Setup - 21 May 2020

BITSTAMP:LTCUSD   Litecoin / U.S. Dollar
BITSTAMP:LTCUSD at a key resistance zone on the daily chart
Trend: Bearish
  • Enter SHORT @ 42.5
  • Stop Loss @ 49.5
  • Target 1 @ 32.5
  • Target 2 @ 28.5
  • Target 3 @ 22.25
Trade closed: stop reached
Comment: I normally close the trade with a stop loss on candle close regardless if I am trailing or not.
Trade closed: target reached: Take Profit 1,2 & 3

Comments

I will be on the look out for future ideas, here's my thoughts
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TrendSetups MartyBoots
@MartyBoots, Thanks! I was looking at this today and I think it will drop on the daily for a few more days. and if (1) it doesn't break the sideways structure on the weekly chart to the downside, and (2) it consolidates at the bottom of the weekly structure, that's when I will look for long entries also
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here is what I will be following on LTCUSD from a MTA point of view
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TrendSetups transparent-fx
@transparent-fx, Thank you! I loved the video. Here is also my take on the weekly chart. I forgot to pinpoint on the chart the bearish engulfing candle.
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