Trade Recommendation: Litecoin (LTCEUR)

The price returns above Simple Moving Average with period 50. New swing low is higher than the previous one. MACD confirms upward movement.We have confirmation that the market is going to continue the upward movement. Long trades must be opened based on a breakout signal.

We have 40.00 resistance level and pending orders for buy should be placed above this level. As for stop orders, it will be more safely to place them below  the support zone. Profit target should be at the resistance level.  If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.

Buy: 40.10
Stop: 30.90
Profit Targets: 48.50

Author:
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.