LTC/BTC 1D (Binance) Falling wedge & facing strong support
Litecoin is looking quite bullish in satoshis, so event if BTC drops after halving this trade could play out well.
Buy Entry= 0.005235 - 0.005055
Take Profit= 0.005731 | 0.006227 | 0.006895
Stop Loss= 0.004559
Risk/Reward= 1:1 | 1:1.85 | 1:2.99
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -11.39%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
Buy Entry= 0.005235 - 0.005055
Take Profit= 0.005731 | 0.006227 | 0.006895
Stop Loss= 0.004559
Risk/Reward= 1:1 | 1:1.85 | 1:2.99
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -11.39%
Fib. Retracement= 0.236 | 0.382 | 0.618
Margin Leverage= 1x | 3x | 5x
Note
Stop updated to 0.004286I had to redrew a little bit but the idea and targets remain the same.
Risk/Reward= 1:0.68 | 1:1.26 | 1:2.04
Expected Profit= 11.39% | 21.03% | 34.01%
Possible Loss= -16.70%
Note
Almost back to entry, now facing descending channel resistance, if breaks out we all now what will happen next...Trade closed: stop reached
SL hit with -16.03% from average entryThis trade is taking way too long and already was invalidated.
I should have closed it in profit back in August, but I prefer to avoid further loss now.
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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.