Litecoin is breaking out of it's bull flag. A nice pattern that formed after the run from 52 to 55.
That run from 52 to 55 was the result of a long consolidation from 24 August.
There is a lot of buying pressure behind this move so I fully expect it to reach my target of 59-60 .
Entry: above 55
Target: 60 (100% measured move from breakout at 52-56 = 4 points)
Stop: below flag at 54
Great Reward to Risk: 4:1
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!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
That run from 52 to 55 was the result of a long consolidation from 24 August.
There is a lot of buying pressure behind this move so I fully expect it to reach my target of 59-60 .
Entry: above 55
Target: 60 (100% measured move from breakout at 52-56 = 4 points)
Stop: below flag at 54
Great Reward to Risk: 4:1
--------
!! PM me with any questions about my analysis !!
MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
Successful trading means proper risk sizing and trading small so you can stay in the game.
Commento:
Nice pullbacks and continuation on this run. Adding some more. Looks strong.
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591