The Daily Show: LTC What? Why? Lambo? (D)
Good evening,
So, LTC is in the middle of a retrace. I have redrawn my support and resistance lines but do you know what I forgot. To put my SL at the new level so I got SL out at 167. You live and learn.
At this point in time even with LTC dropping to 165 I do not think that is a deep enough drop. So, it needs to test my last line of support or go sideways tomorrow on the lower time-frames. I want to see it test the 162-158 and bounce from there with purpose. If we do not get this type of price action, I fully expect a surge then drop to the 130's or lower.
Be a hyena.
Not financial advice, just my opinion.
So, LTC is in the middle of a retrace. I have redrawn my support and resistance lines but do you know what I forgot. To put my SL at the new level so I got SL out at 167. You live and learn.
At this point in time even with LTC dropping to 165 I do not think that is a deep enough drop. So, it needs to test my last line of support or go sideways tomorrow on the lower time-frames. I want to see it test the 162-158 and bounce from there with purpose. If we do not get this type of price action, I fully expect a surge then drop to the 130's or lower.
Be a hyena.
Not financial advice, just my opinion.
Note
Down day may do some small swing tradesNote
IF 150 does not hold we will see low 140sNote
No trade day. I am waiting until after the 11th to make my decision as to whether I will short or not; that is mostly likely the breakout point.Note
Ummmm hugely bullish candle on the daily being formed.
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Related publications
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.