botje11
Short

Double top for Litecoin, short trade

BITFINEX:LTCUSD   Litecoin / U.S. Dollar
Bitcoin             seems to be dropping a bit more and LTC seems to be making a double top . Nice trade opportunity with a short stop above the high with a target towards 155. Good risk reward now
Comment:
Almost dropping out, below 160 would be the first confirmation
Comment: I am closing half at 155 and the rest around 150, lowered stop to entry level now
Comment: Bitstamp chart (first chart is also from Bitstamp),
If it stays above the line we could be going towards the 9K highs
Comment: Wrong idea the last update
LTC, it stood strong above this long rising upwards trendline. If it breaks upwards, it could go towards the 180. I have put the stop around 167 now and will probably turn if it breaks upwards
Comment: This H&S needs some volume at the breakout, otherwise it might not even reach the target or it will almost certainly turn IF it reaches the target. But first lets see if it has the buying power to break through!
Comment: I am going long now :)
Comment: Target is around 8600, stop just below 8000 for now, but if it goes higher it will place it higher
Comment: Crap, i mix the different chart with my updates, sorry :)
Comment: LTC is about to break out, but ofourse it all depends on BTC. If BTC goes higher, expect LTC to outperform it again
Comment: BTC made another drop, so it did not push through. I am going long LTC at the green area
Comment: I am getting out already, 4 points profit, but it does not feel good. Bitcoin is showing to much weakness. It will drag it down again if BTC drops more
Comment: But again confirmation that LTC is still outperforming Bitcoin at the moment. It could be i got out to early, but i had a profit and i was seeing mixed signals. So i got out. Wait for another opportunity
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I'd love to hear your input on an update for LTC to see what you see
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Phew.. I was about to withdraw all my cash savings and dump them into LTC :D
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botje11 afterforever
@afterforever, LOL :)
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Check it out:

+2 Reply
botje11 afterforever
@afterforever, Thats a sick move, who even does something like that
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@botje11, 34.5k of LTC in 2 trades. LOL. That was someone trying to pump LTC last night. Notice how rally ended after $#@ went out of wack :P
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do you look at the RSI too?
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watch out in case of a cup and handle though
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