LTCUSD DAY TRADES
Updated
Price at a decision point - Bear or Bull fork on Day Double Bollinger chart
Price has setup in between 100 sma and 50 sma for bearish move
Macd has setup an over bought bearish pullback
Price has setup in between 100 sma and 50 sma for bearish move
Macd has setup an over bought bearish pullback
Note
On the left chart above are two sma lines (blue & red).These are 50 sma and 100 sma. I use these to help me see where the center of the price action should be. If price gets far away either above or below these sma's then price will come back to them. If price is in between the 50 and the 100 sma then that usually means some sideways movement of price in between them with out much momentum. But sometimes price will drive right through them if it already had strong momentum before entering that space between the ma's. Also usually (and this chart is a great example of this) price will go halfway across and then return to the 1st ma. There are 2 things that can happen. Price will continue back to the other ma or that price move is failing and price will move back above that 1st ma and continue on. I use this principle as I do my TA of the chart. If this happens what then?
Note
Pair is falling bearish towards 50 smaNote
Price hit take profit
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