Short

Triple top downside breakout LTCBTC trading plan.

Updated

The general alt context is the one of a very strong correction. Some major cryptos broke (yet) historical support levels, LTCBTC -4.43% just broke the 0.010 line that supported the price since may.
It confirms the Triple top pattern. The trade has, seen the context and the major break, an high probability of success. We well use the maximal amount of money allowed by our money management.

Black lines on the Charts represent the different magnet levels given by ichimoku (Use higher TF flattened SSB -0.22% levels), the -20% level is the target given by the Bulkowski rules for tripple top patter trading.
We enter now as the break happened and add on pullbacks till 0.010 AND on rebreak lower. This alt counter rally is EXTREMELY strong. I see no or few pullback coming. Stop slightly above 0.010. The plan is to trade only this leg down for the moment.
Trade risk reward is around 3.

We'll be cautious around 0.0084 as a resistance stands at this level.

Trade closed: stop reached

Stopped by the BTG pullback.

Trade active

Reentered Higher. Tighter stop.

Trade closed manually

Closed on local reversal pattern break.

looking after a reopen signal after a possible 0.0092 break.

narushima

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