Incredible Litecoin ChartWith everyone's attention on Bitcoin's price skyrocketing, Litecoin has exploded higher. This daily chart which is almost 1 year shows Litecoins incredible run higher.
Ltclong
LTC Moving HigherLitecoin has broken out of the flag pattern it was forming. It had a strong break out followed by a classic re-test of the upper trendline. I am really liking how LTC is looking here, I continue to slowly add to my position.
Litecoin - LTC trading in a channelLitecoin has been trading in a downward sloping channel since early yesterday. It has put in a higher low and a higher high but I would like to see LTC break above the upper channel trendline to continue the uptrend.
LTC Forming a Flag PatternLTC has had an incredible run the last two days and I am really tempted to buy more but I have decided to be patient. It is possible LTC could breakout above the upper trendline and continue higher, but I am going to wait to see if LTC will pullback and possibly re-test support in the $135 area. If it does I will be ready to buy, I believe it is worth the risk that LTC will breakout higher for the chance to buy more well below where it is now.
Litecoin Pace that kills? Litecoin has been looking great recently. Currently flirting with a second trend line (green), but realisticly LTC will have a very hard time maintaining that pace upwards. I am expecting a consolidation back to the black up trend line before more up.
Once price comes back to black trend line, would be a good time to throw some more LTC in the bag. I am predicting the price will consolidate down to the $63-65 range.
Cheers and happy trading!
Litecoin moving to buy zoneLitecoin has broken out of the upward channel (following btc) and is drifting back down to 200 day MA.
200 day moving average and Fib levels should provide good support levels. Look to purchase in the $68-$72 range if we see signs of reverersal. The first profit target being the all time high in the mid $90s.
Cheers and happy trading
LTCBTC Ascending TriangleLTC could break this triangle soon and that would give us a good projection for profit.
My View of LTCThis is my view of Litecoin. From what I see it has been for the most part trading in an upward channel, I could see this continuing over the next couple of months,
giving traders buying opportunities near the lower trend line and selling opportunities near the upper trend line. I have not really been trading Litecoin, I am in it more for the long-term (min. 1 to 2 years) so
I mostly just buy on any dips, I did, however, sell a large portion of my position when LTC spiked up over $90 and have been rebuilding my position ever since.
LTC: Short term channels v2So yesterday I proposed a channel. Without putting too fine a point on it: I was wrong. The channel itself was correct, but I missed the outer one. That's a risk of working off of limited data, and why I generally try to avoid working with the hourly too often.
Here's a second attempt. It still has some of the weaknesses of the first (limited data) but seems to be holding. Expecting up to a $2 swing within the next 1-5 hrs. 1h chart currently suggests it'll be a downward break, shorter duration are inconclusive. Regardless of the direction, as long as it conforms to the larger channel I remain bullish.
Support 1: 63 (bottom of channel, currently medium and this number will creep up)
Support 1: 62 (weak)
Support 2: 61.40 (medium)
Support 3: 58.60 (medium).
Resistance 1: 66 (medium)
Resistance 1: 67.50 (top of the channel. Currently strong, but this number will move up as the hours go by)
Resistance 2: 74 (strong)
LTC: Short term channel formingTake this TA with a pinch of salt -- trying to extrapolate off of a 24 hr period is a bit silly, even before we factor the 2x stuff into it. I usually look for more long term trades, but found this interesting so figured I'd share it.
With those caveats out of the way, we seem to be in a nice upward channel in the past 24 hours.
Next resistance point is around $65.50, give or take 50 cents. After that there's not a ton of historical data to go off of -- the next point I see after that is all the way up at $74.
I'm not ready to call moon quite yet, especially with all the chaos flying around atm. But it's starting to look exciting.
TAS - LTC Trade OpportunityThe TradeAlertSystem (TAS) aims to pinpoit entry (Enter Trade Alert) and exit points (Exit Trade Alert) for long and short positions for short day/intraday trades based on a powerfull algorithm running on background and picking the best entry and exit zones for the trader.
All the trader has to do is follow the email alerts the system sends, no more endless hours of looking at charts trying to guess entry or exit points.
The system consists also on a smart money managment that consists on entering in a trade with 1/5 of the total intended trade money in the 1st Enter Alert and exit at 1st Exit Alert, and it's also designed to cut your losses providing 4 extra price corrections possibility (pyramiding / layering entry x 4), these corrections are only allowed after a 4 candle period on the 2h chart meaning: the 1st correction should be done only after 8hs or more related to the entry position (1st Enter Trade Alert) and should be only done on a new alert (>= 8h new blue bar), and so on.
After 4 corrections a stop loss with 5% price value on the last correction price should be submitted.
Back testing gives a extremely high level of accuracy on short term trades (day/intraday trades).
The charts publishing can have some delay because I can't afford to be online 24/7. Though the email alerts work 24/7 in real time.
The chart colors are all changed to reduce headaches, so green is blue and red is white.
Entry price: 54.049 with 1/5 of trade money. (e.g.: 2000 of 10000 USD)
Disclaimer:
1. This is not a trade advising system for the general public for now, I use it for my own trades and publish it to keep an historical record and testing purposes. Follow this system at this stage at your own risk. Soon I intend to make available a real time email alerts for the TAS subscribers. PM me if you interested.
Good trading!
ATS - LTC Trade Opportunity The ATS aims to pinpoit entry (blue bar) and exit points (white bar) for long and short positions for short day/intraday trades based on a powerfull algorithm running on background, and picking the best entry and exit zones for the trader.
All the trader has to do is follow the email alerts the system sends, no more endless hours of looking at charts trying to guess what will happen next.
The system consists on entering in a position with 1/5 of the total capital in the 2h Chart (left chart) and exit at 1st exit warn on 30mins chart (right chart).
It's designed to allow 4 extra price corrections (pyramiding / layering entry x 4), these corrections are only allowed after a 4 candle period on the 2h chart meaning: the 1st correction should be done only after 8hs or more related to the entry position (1st blue bar) and should be only done on a new entry warn (>= 8h new blue bar), and so on.
After 4 corrections a stop loss with 5% price value on the last correction price should be submitted.
Back testing gives a extremely high level of accuracy on short term trades (day/intraday trades).
The charts publishing can have some delay because I can't afford to be online 24/7. Though the email alerts work 24/7 in real time.
The chart colors are all changed to reduce headaches, so green is blue and red is white.
Entry price: 53.673 with 1/5 of trade money. (e.g.: 2000 of 10000 USD)
Disclaimer:
1. This is not a trade advising system for the general public for now, I use it for my own trades and publish it to keep an historical record and testing purposes. Follow this system at this stage at your own risk. Soon I intend to make available a real time email alerts for the ATS subscribers.
Quick LTC breakout play, need volume!LTC showing bullish divergence on MACD + RSI, bullish wedge forming at this level. With Bitcoin looking bullish Litecoin is ready to follow, watching for a quick breakout if we get some volume.
Re-evaluate the trade if we hit T1 otherwise letting the tight stop hit and look for a remount play
Normally dont go for small time frames but this looks like a good RR play if LTC rallies into the 60-70 range
