LTCM19 - LONG 5x Falling wedge, good entry, low risk.
Updated
NOTE: People on twitter are misleading folks into thinking their current Litecoin balance is literally going to be halved, magically losing 50% of your stash, which is utterly false. The Litecoin halving just means block rewards for miners will be permanently halved on the confirmed date. It doesn't affect you, just miners. If you want to learn more about halving regarding bitcoin and how it affects the price, check out related ideas.
Exchange : Bitmex | Margin Trading
Trading Pair : LTCM19
Position : Long
Leverage : 5x
Approx Risking: 4.5%
Approx Reward: 13.5%
Risk/Reward: 3
STOP LOSS: 100% @ 0.012891
Approx Entry AVG: 0.013507
Entry 1: 1x @ 0.014095
Entry 2: 2x @ 0.013835
Entry 3: 6x @ 0.013552
Entry 4: 18x @ 0.013179
Approx Exit AVG: 0.033829
Exit 1: 25% @ 0.014548
Exit 2: 25% @ 0.015001
Exit 3: 25% @ 0.015453
Exit 4: 25% @ 0.015736
Reasons to enter (Prioritized from most to less important):
1. LTC Halving = less supply + same if not more demand which equals pump
2. Falling Wedge normally means it will pump and create a market reversal
3. Previous support should hold when the falling knife hits, if not, stop loss will be triggered only losing 4.5% max
Exchange : Bitmex | Margin Trading
Trading Pair : LTCM19
Position : Long
Leverage : 5x
Approx Risking: 4.5%
Approx Reward: 13.5%
Risk/Reward: 3
STOP LOSS: 100% @ 0.012891
Approx Entry AVG: 0.013507
Entry 1: 1x @ 0.014095
Entry 2: 2x @ 0.013835
Entry 3: 6x @ 0.013552
Entry 4: 18x @ 0.013179
Approx Exit AVG: 0.033829
Exit 1: 25% @ 0.014548
Exit 2: 25% @ 0.015001
Exit 3: 25% @ 0.015453
Exit 4: 25% @ 0.015736
Reasons to enter (Prioritized from most to less important):
1. LTC Halving = less supply + same if not more demand which equals pump
2. Falling Wedge normally means it will pump and create a market reversal
3. Previous support should hold when the falling knife hits, if not, stop loss will be triggered only losing 4.5% max
Trade closed: stop reached
Stop loss triggered. Wedge did not play through, instead broke out then dipped past support. loss 4.5% of position.
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