Trade Recommendation: Litecoin Opportunity | Hacked: Hacking Finance
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Trade Recommendation: Litecoin Opportunity

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Trade Recommendation: Litecoin Opportunity

Introduction

This article was posted on Tuesday, 09:44, UTC.

Litecoin is a market which has a great potential for an upward movement and it is on good levels for buying in long term. If we look at the daily chart of this altcoin we can see that the price is between the top border of the descending channel and the main uptrend line from bottom. RSI confirms price reversal from the uptrend line and we should expect for further upward movement. Also we should note that the main trend is upward and it’s logical to search for entry levels for buying only.

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Long trades must be opened based on a breakout signal. Estimated entry level is above 43.80 and it’s the local swing high on lower time frames. You can use pending orders or buy from the market when the price breaks the channel. Stop orders must be placed below 38.00 level. It’s the local swing low based on the daily chart. We can spot our 1st profit target at 50.00 resistance level and if the market breaks above this zone, the 2nd profit target should be at 55.00 level. Also it’s possible to fix a part of profit near these resistance levels and leave the rest buy position for long run. Recommended trading volume for this market is 5%-10% from your deposit and it depends on how many markets you trade.

Buy: above 43.80
Stop: 37.85
Profit Targets: 50.00 and 55.00

The trading signal is based on Poloniex chart.  

Important: Never invest money you can't afford to lose. Always do your own research and due diligence before placing a trade. Read our Terms & Conditions here.



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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 Mycotoxin

    Posted on 11:23 am August 1, 2017.

    Fantastic suggestion. I think i’ll purchase a few LTC

  • user

    AUTHOR letusallunite

    Posted on 3:14 pm August 1, 2017.

    Some graphs that illustrate your ideas with be helpful. 🙂

  • user

    AUTHOR Chris G

    Posted on 11:00 pm August 1, 2017.

    litecoin has treated me very well in recent weeks …

  • user

    AUTHOR ArneVR

    Posted on 12:01 pm August 2, 2017.

    Would you use BTC or ETH to buy LTC?

  • View Comments (7) ...
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