Hi, friends.
After the wide balance went down, we have a directed downward movement.
When does the trend stop? The answer is - "after fixing".
Did the fixing take place on LTC? Yes.
What next - after the fixing a new phase of the balance begins.
And if everything is clear with the potencial lower balance level (area 49.19-51.00), then with the upper balance level we have 2 options - 60.70 or 66.50. I bow for second option.
But margin traders can sell from both levels. Just need to understand that 60.70 is more risky level. Level 66.50 more reliable I think.
Another very important point - until the new balance goes up, we remain in the priority of sales. Do not rush to buy.
Trade recommendations:
Entry price: 66.50 (conservative), 60.70(aggressive)
Take profit 1: 50.1
Take profit 2: 40.1
Take profit 3: 39.50
Stop loss: 68.25 (conservative), 62. 45(aggressive)
Glossary of terms
After the wide balance went down, we have a directed downward movement.
When does the trend stop? The answer is - "after fixing".
Did the fixing take place on LTC? Yes.
What next - after the fixing a new phase of the balance begins.
And if everything is clear with the potencial lower balance level (area 49.19-51.00), then with the upper balance level we have 2 options - 60.70 or 66.50. I bow for second option.
But margin traders can sell from both levels. Just need to understand that 60.70 is more risky level. Level 66.50 more reliable I think.
Another very important point - until the new balance goes up, we remain in the priority of sales. Do not rush to buy.
Trade recommendations:
Entry price: 66.50 (conservative), 60.70(aggressive)
Take profit 1: 50.1
Take profit 2: 40.1
Take profit 3: 39.50
Stop loss: 68.25 (conservative), 62. 45(aggressive)
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.
Trade closed: target reached