position still shows strong momentum up, ath is at $50, on hourlies there's clear ascending triangle / flat top pendant, target at 20, 30, and 50. Trade is high leverage 16x, risk is 1% of bag. I have several positions opened minutes after the news and later, I drew two.
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Don't listen to me, I don't know anything by the way. And I'm trading based on okcoin ltcusd index, so price is lower but I trade based on poloniex:ltcbtc*bitstamp:btcusd for highest volume and fastest reactions.
hey there! looks like we hit the target. what do you expect from now on? :)
spacetrader
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@erelerel, going long on any higher lows, getting out on lower lows. we might be consolidating here, might have some dump on segwit news but i can see this going higher - ltcusd has high history of positive correlation with btcusd and with rsk and coinbase and litening network on the news, don't see why not ath above $50 (old ath) long term. every higher low i move my stops up into more profit and when i re-enter i re-enter on higher lows with normal position size (only risking <1%). if it falls out of this blue channel, i'll re-evaluate on larger TF
spacetrader
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@spacetrader, Higher TF analysis looks something like this with possible $80 target of course this can take years with giant throwbacks or not at all since crypto world changes rapidly. but good to have some upside in mind.
spacetrader
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@spacetrader, the green dots at the top show a strong history of correlation with bitcoin moves. and my chart for bitcoin shows significant upside as well from one of my published ideas.
erelerel
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@spacetrader, this chart is absolutely amazing! :)