LTCM20 - Downward wedge forming - few long options
Updated
Downward Wedge has been forming on LTC, It is also approaching a low demand zone
Options 1 & 2 looking for break and retest.
Two possible entry points, either around 5790 mark on the retest from the break out,
otherwise wait for 5890 resistance to break for the 2nd entry.
Option 3
Limit order set at top of demand block for a longer term long to previous high.
Trade will be managed with several TP's (5890, 6047, 6180) as it progresses.
Trade option 1 expected to play out within a day or so option 2 within 2 days from entry,
trade 3 possibly upto a week.
#mba #schoolofsparta #mbatradingacademy #sos #tafriday
Options 1 & 2 looking for break and retest.
Two possible entry points, either around 5790 mark on the retest from the break out,
otherwise wait for 5890 resistance to break for the 2nd entry.
Option 3
Limit order set at top of demand block for a longer term long to previous high.
Trade will be managed with several TP's (5890, 6047, 6180) as it progresses.
Trade option 1 expected to play out within a day or so option 2 within 2 days from entry,
trade 3 possibly upto a week.
#mba #schoolofsparta #mbatradingacademy #sos #tafriday
Trade closed: target reached
As you can see this trade went pretty well, with long Options 1 and 2 playing out
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