LTC - Doldrums - Possible Short at channel support
Updated
LTC/USD holding very steady at big support level of 54.00. There is a pretty steady uptrend with LTC/USD as you can see and but we are right at the bottom of the channel support level of 54.00. Short term play I see it slipping some in next couple weeks as BTC pulls money out of Alts in anticipation of B2X 0.11% . Initiate short at 53.80 target 49.20 (.618 fib extension from sept 15 low) / stop loss 56.20. If it continues to hold at 54 support then I am neutral for now. Big yawn right now in most ALTS mostly, BTC is taking the air out of the room. Trying to pump the sails a little here, I will admit.
Trade active
Almost hit 49.20, I see about 49.50 being hit, then bounce back up. Lets move stop to 52.40 and keep short in play until 49.20 is hit.Trade closed: stop reached
Stopped out at 52.50 for 2.4% trade profit.
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