Litecoin Buy Signal

Price bounces from Tenkan line and RSI confirms price reversal. DMI confirms trend market conditions and allows trading. ADX line rises and it confirms a possible upward movement. We have buy opportunity. Entry level for long trades can be above 48.00 level with stop orders below the uptrend line and 42.00 level. If you want to trade in short term, profit target should be at 55.00 resistance level. Also you can hold these trades in long term. If price breaks the uptrend line, we'll see downward movement to the kumo. It will give us new trading opportunity. The market has huge potential for an upward movement in long term.

Comment:

It's a good example why we should use pending orders and swing lows/highs. The market did not break the local swing high and dropped lower. We didn't open a new long trade based on the buy signal. We have to wait for new trading opportunity.

Comment:

Price broke the uptrend line. The market is near the kumo. Watch for price action in this zone and possible reversal signal.