LTC Trade Zones: Short or Long?

17 gen

LTC has been making some moves recently, with a solid rise getting close to a key high. But the current price action hints at an ABC corrective structure, so a pullback could be on the way.

Short Setup:

• Entry: Between the 0.618 and 0.786 Fibonacci retracement of the current wave
  

• Stop Loss: $141.4 (the previous high)
  

• Target: $130.7
  

• R:R: About 2:1
  

Long Setup:

• Entry: Around $130, with confirmation
  

• Stop Loss: $126.45
  

Targets:

• First at $134
  

• Second at $147 (the key high)
  

• R:R: A nice 5:1 potential
  

Why These Levels?

• The $130 support zone lines up with the 1:1 Trend-Based Fibonacci Extension ($130.29)
  

• It’s also near a previous swing high, adding more weight to it as a strong level
  

Plan:

• If price moves into the retracement zone, a short trade targeting $130 makes sense
  

• If it hits the $130 support and shows strength, a long setup targeting $134 and $147 could be a great play
  

18 gen

Trade chiuso: obiettivo raggiunto

short trade TP target reached, no long trade was executed