Did I have the ONLY spot on LTC call!? Bounce plays abound.
If you have read or even looked at my past LTC posts, you will know that I have been worried about these pairs breaking down. My last Head and shoulder call was SPOT ON. For those of you following me you should either be laddering your buys accordingly or been stopped out depending on your plan. for laddering you need to look at how far this thing could potentially go down.
We know this thing is trending down, lets look at the technicals a bit to see where we are:
1. LTC has broke this long massive support line.
2. MaCD is negative.
3. RSI is in oversold terrtitory.
Look, I am not shilling anything. I post because I want people to make money and I want to make money. Bottom line. If I wanted to paint an image that these things were going to moon I would try and sell you on THAT so you would buy my service, but I don't. i call it like I see it.
On my last post I said something to the effect of "I won't be buying again at this $112 area, closer to $100. Well, we are almost here.
I am strictly laddering buys on these pairs going forward. READ UP ON HOW TO DO IT! see below. A couple things to keep in mind. i anticipate a bounce but i don't know if that will happen at $100 or maybe 90? This is where the laddering comes into play. There is a POSSIBILITY that BTC goes to 4k. IF it does that, that will put LTC at a 30% drop, or down to roughly the $70 area. Make SURE you have planned accordingly or you can potentially suffer massive loses. My first buy is just above $100. If ya'll want me to give you more specifics, gotta send me love via my twitter page or pm me. and I don't just mean follow my twitter page either. If you are also worried about missing the move, buy in with your first ladder, if you run the math on your first position, sometimes it makes sense.
Best of luck out there,
-Sherem
We know this thing is trending down, lets look at the technicals a bit to see where we are:
1. LTC has broke this long massive support line.
2. MaCD is negative.
3. RSI is in oversold terrtitory.
Look, I am not shilling anything. I post because I want people to make money and I want to make money. Bottom line. If I wanted to paint an image that these things were going to moon I would try and sell you on THAT so you would buy my service, but I don't. i call it like I see it.
On my last post I said something to the effect of "I won't be buying again at this $112 area, closer to $100. Well, we are almost here.
I am strictly laddering buys on these pairs going forward. READ UP ON HOW TO DO IT! see below. A couple things to keep in mind. i anticipate a bounce but i don't know if that will happen at $100 or maybe 90? This is where the laddering comes into play. There is a POSSIBILITY that BTC goes to 4k. IF it does that, that will put LTC at a 30% drop, or down to roughly the $70 area. Make SURE you have planned accordingly or you can potentially suffer massive loses. My first buy is just above $100. If ya'll want me to give you more specifics, gotta send me love via my twitter page or pm me. and I don't just mean follow my twitter page either. If you are also worried about missing the move, buy in with your first ladder, if you run the math on your first position, sometimes it makes sense.
Best of luck out there,
-Sherem
Comment:
Folks, read up on martingales and laddering. Structure your trades appropriately. I laid out what i could for you -
Comment:
I haven't said this for a while, but I hope my analysis is supporting your trading and decisions. Please let me know if it does and hit the like button to show it! Thank you!
Trade active:
First Ladder triggered @ $101.10
Comment:
It's just hovering around our support point at the moment, not to much going on.
Trade active:
2nd ladder triggered, 91.10
Comment:
Getting a solid bounce off of this 91 area we entered at. Following my lines quite nicely. I think the $112 area is a good target to get out at for now.
Comment:
Might be a good time to re-enter if you missed it, made a new thread but will update both.
and the larger picture view -