LTC - 2 scenarios I'm watching
There're 2 scenarios I'm watching for Litecoin
1. Price keeps trading under the Kijun on the 4H chart, future Kumo twists bearish and a break of the cloud occurs (also breach of the 1D Kijun). Here're we're looking for SHORTS.
2. Price bounces at the bottom of the cloud (1D Kijun) and starts trading to the upside. Bullish TK re-cross is a must too. Here we're looking for longs.
Observations:
The current 4H cloud is quite thick so I'm leaning slightly BULLISH.
Monitoring very closely ADX and DMI closely!
1. Price keeps trading under the Kijun on the 4H chart, future Kumo twists bearish and a break of the cloud occurs (also breach of the 1D Kijun). Here're we're looking for SHORTS.
2. Price bounces at the bottom of the cloud (1D Kijun) and starts trading to the upside. Bullish TK re-cross is a must too. Here we're looking for longs.
Observations:
The current 4H cloud is quite thick so I'm leaning slightly BULLISH.
Monitoring very closely ADX and DMI closely!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.