Unlike Bitcoin, LTC/USD looks more promising with a potential upmove with signs of accumulation $33.20 level. The recent low at $24 seems well supported with good volume supporting the price. The shaded area in yellow exhibits signs of accumulation with heavy volume but price cannot seems to go lower.
As long as $24 holds, we are looking for a long trade with a potential upside of at least $10 given the volatility of cryptocurrencies. It is a wiser move for price to closed above $33.20 before a retracement to this level before taking a long trade so as to ensure there are bulls in it to support this upmove. Given this is a counter-trend trade, please be nimble in your lot size and it's good to take money off the table should there be signs of bearish like a bearish engulfing candle developing over the course of the trade.
EP: $31.20
SL: $28
TP: $55.90
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
As long as $24 holds, we are looking for a long trade with a potential upside of at least $10 given the volatility of cryptocurrencies. It is a wiser move for price to closed above $33.20 before a retracement to this level before taking a long trade so as to ensure there are bulls in it to support this upmove. Given this is a counter-trend trade, please be nimble in your lot size and it's good to take money off the table should there be signs of bearish like a bearish engulfing candle developing over the course of the trade.
EP: $31.20
SL: $28
TP: $55.90
Good luck in your trading journey!
Best Regards,
Nour Capital - Tracking Smart Money Flow
Disclaimer:
The material (whether or not it states any opinions) is for educational purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by Nour Capital or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Trade active
EP has been triggered.Trade active
Set SL to BE.Trade closed: target reached
TP Hit!
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.
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.