LTC USD Long Entry
The 4h chart for LTC USD might give signal candle for the 5 RSI method I've mentioned in BTC ideas. I prefer trading the daily chart but find it useful to drop down to the 4h for entries & exits in a strong trending market. If this candle closes above the mid-line on the RSI setup I'll be looking for price to exceed the top of the signal candle for an entry. Previous setups on the chart have worked well with a 1 to 1.5x ATR stop. Keep in mind the upcoming block reward halving and that LTC has consolidated in the $130-140 range lately...breakdown or breakout soon.
Educational purposes only but I hope we're all posting lambo pics by the fall.
Educational purposes only but I hope we're all posting lambo pics by the fall.
Note
1h & 4h charts in solid sell territory. See latest on daily chart.
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