Trade Recommendation: Litecoin | Hacked: Hacking Finance
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Analysis

Trade Recommendation: Litecoin

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Trade Recommendation: Litecoin

Introduction

This article was posted on Monday, 21:19, UTC.

The market dropped to 64.00 support level and it gives us a new buy opportunity. RSI is in the oversold zone and it’s going to reverse. MACD histogram is also going to reverse and support upward movement. DMI allows open long trades. We can start building our long positions. This time pending orders should be placed above SMA50 at 71.20 level. Stop orders can be placed below SMA100. Profit target should be at 90.00 resistance level for small part of volume. The other part of trading volume will be left for long run. If you don’t use leverage, recommended trading volume for this trade is up to 3% from your deposit.

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Buy: 71.20
Stop: 58.00
Profit Targets: 90.00

The trading signal is based on Poloniex chart.

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Dmitriy Lavrov

Dmitriy Lavrov

Dmitriy Lavrov is a professional trader, technical analyst and money manager with 10 years trading experience. The main covered markets are Forex, Commodity, Cryptocurrency. Provides personal education for those who are interested in profitable trading. Entries in TOP 10 among TradingView authors.

Comments
  • user

    AUTHOR nemeshb

    Posted on 9:59 pm September 4, 2017.

    when would you buy back in if you sell at 90? assuming you sell like 10%of your position at 90..

  • user

    AUTHOR marekmorello

    Posted on 3:48 am September 5, 2017.

    are you taking in consideration, that the price of litecoin (and all other major coins) is tied to the price of Bitcoin? I mean, it is more than likely, that Bitcoin will fall more and will drag everything down with it. Like it just did. Your entry level was reached and -boom- Bitcoin fell.
    Just saying…

    • user

      AUTHOR Dmitriy Lavrov

      Posted on 8:11 am September 5, 2017.

      We have buy opportunity and we can follow it. Not all trades are profitable. That’s why we use stop orders as a variant to protect the deposits. If Bitcoin falls, altcoins will do the same. But on the cryptomarkets reversals are so fast, that we must be ready to catch price movement as quickly as possible. That’s why we have to follow trading signals, even they are not so solid.

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