Trade Recommendation: Litecoin (LTCEUR)

The price moves upward in the borders of an ascending price channel. When the price bounced from the trend line of the channel, we got a buy signal. RSI confirmed price reversal. Now we have to place pending orders for buy above the local swing high. If the market moves higher than 41.00, it will be a good confirmation of further upward movement. Stop orders must be placed below 34.50 level. Profit target should be at 50.00 resistance level. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Buy: 41.30
Stop: 34.50
Profit Targets: 49.00

The trading signal is based on Kraken chart.

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.