LRCUSDT trade ideas
LRC - Descending Triangle - SELL SHORTLRC is strictly respecting the descending triangle movement which draws lower highs and support bounce, which is likely to break through to the support after it reaches a certain level.
I'm placing shorts every time it gets rejected from the triangle top side.
This is my 4th short position I open here.
Two. Four. Six.Now that channel on 1 hr was denied we could possibly go downward more to test 2.3 ma again. If interest wains we see 1.80 or less within the next week is starting to make a lot of sense. It would then get very hectic to get out if looping/gme was delayed. We would see 1 pretty quickly.
This could get ugly fast unless someone or something happens in the next day or two.
🔥 Loopring Bull-Flag: Volatility SoonAfter the massive run-up earlier this month, LRC is currently seeing some consolidation coming its way.
During this period of consolidation, a bull-flag pattern has developed on the chart. Since this flag pattern has formed during a strong bullish move, it's more likely for the price to break out on the bullish side than on the bearish side.
In case of a bullish break out, I'm looking at the $2.75 - $2.90 range for potential exit targets. In case we break above that in the coming days, we might even go for a new all-time high in the near future.
Happy trading!
2:1 short trade idea for LoopringDecent 2:1 short odds for LRC, which has just broken through (1) super-trend and (2) support line, also (3) 20x50 EMA cross-over to the downside. Price-volume weighted average (MFI) and OBV also just broke down.
#3 would've been the optimal short point, but confluence of all (1)(2)(3) is a much safer entry. Don't forget to set your stops automatically when dealing with futures (take yourself out of the equation).
Note- This is for intra day trading only, watch carefully over 4-16 hours period. Longer horizon this stock is still bullish.