Nice idea on LTCUSD and there may be potential gains as you have identified by going long. For our set up, we have identified the key resistance and support levels. Currently, price is approaching our first support at 50.58. It is horizontal swing low support, 61.8% Fibonacci extension AND A 78.6% Fibonacci retracement. Stochastic is seeing an approaching support and we might see a corresponding bounce in price. If a corresponding bounce does occur, we may want to take a look at the 56.95 resistance level. It is horizontal overlap resistance, 61.8%, 100% Fibonacci extension and a 50% Fibonacci retracement.
Please take a look at our idea and share with us what you think.