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Litecoinshort

Taking us higher, highhhherr! LTCMy last post laid out a pretty clear strategy to pick up some LTC as it dipped down. If you are following me, I hope you got in and scooped up some of these prices as it fell and realized how effective employing a martingale strategy is. While my positions aren't as good as ETH, I still have a solid position in LTC that is profitable right now. The first thing we need to realize is that we are in an overall bear market. Besides the spike down, maybe more evidenced by the cross in the weekly MACD. Could this be the bottom? Quite possible. We broke the major down trendline last time and we made a higher low and are starting to get a solid push to the upside. We are also kind of breaking this trendline at the moment of writing this, but nothing is confirmed quite yet If it doesn't turn or stall right now, I think we are going to the 190-200 area at least before we get any sort of retrace or sign it's going to continue downward. it also happens that the 50 fib retracement coincides with the 190-200 area for a resistance point. We should get a retrace once we get up there. Keep an eye on this level and this 190-200 area. Happy Trading everyone. Don't stress, pick your points and don't use leverage. -Sherem Check out my last call with how I entered into LTC -
BITSTAMP:LTCUSDLong
by Sherem
1
I identified the top- Trade LTC like a boss- Martingale styleChart update. Position: Very Bearish with a chance of bounces Technicals. Day and Weekly Chart. 1. RSI is in negative territory 2. MACD looking vicious to the downside. 3. Breaking lows. It's clear we are in a bear market. No question at this point. We want to look for signs of a reversal, but there are none and we will continue looking. With all of that down pressure, What's a trader to do? Profit, of course! There are a lot of ways you can do it, the methodology I will be going over in this post is the Martingale Strategy and how to play the bounces as we move up. The reason I like this is because I am not perfect and I can't watch the markets 24/7. Everyone has things they need to do during the day and you also need sleep. The martingale technique involves looking at what you think the highest probability move is for a bounce and then entering in accordingly and playing the bounces. more importantly, if you are wrong, you have points in place and plenty of room to be wrong. You have options, which is important. Lets see what LTC is telling us here. We know we are moving down. But how far down can we go? At this it's hitting just broke this 160 area temp double bottom. And while it would seem that a bounce is in the cards, it is moving down. there is a larger support level at the 150 area, but what if it blows through that support point, and moves lower to this large double bottom? For me, I implement a martingale strategy and I would do something like this: LTC BUY @ 160 area: 20% of portfolio -This trade is active LTC BUY @ 110-120 area: 60% of portfolio Compared to my other trades of ETH and BTC. I am leaving less in reserves for this trade. I think the probability is much higher that will bounce off these lows. You could feel that way about the 6k btc low and weight more down there. It's up to. For this trade, i am only keeping 20% in reserves in case it goes down to $75, which could happen all though I highly doubt it. The key to a successful martingale strategy is to enter in at support points. There are a ton of different ways you can enter in. I was entering in on this recent low and playing a small bounce and it's moved against me by about $7, but that's cool. If it keeps going down I will get my larger orders filled. You can do it however you like. I might adjust some of my positions to scoop up trades as they hit the $130-140 area, we'll see what the market does around those points, and I will keep you updated. Lot of ways you can play it, I outlined some of the possibilities I am looking at. Key is to not stress about your trades. Make sure you read up on martingale strategies. You might not make as much using the martingale, but you will lose less if done correctly. Part of trading is controlling your emotions and this strategy allows you to do that. ESPECIALLY in bear markets! Happy Trading, -Sherem When I first thought LTC would break down -
BITSTAMP:LTCUSDShort
by Sherem
2
LTC -I identified this recent top - Now, the slow march down LTCThe thing to realize here is we are in a bear market. There are few reasons to say that we are at the bottom at this point. Technically here are some major bearish indicators on the daily chart: 1. RSI is negative and no signs of divergence or bottoming 2. Overall down trend. 3. MACD just turned down and going into negative territory On the smaller time frames, things are starting to fall in line for a down move which means we will get a further push to the down side. As i am writing this, LTC is breaking this short term trend line, which would indicate a fall to at least 167 area. At this point, I will be playing any bounces as they move down. I would look for a minor bounce at these recent lows at 167 and serious support at the 150 area. I will not be putting buys in at 167 as I feel the bounce off of there will be minimal. I will be looking to put buys in just above 150 and in the 110-120 area. I have outlined what I think is the highest probability move at this point. As always, MAKE SURE YOU MARTINGALE your buys. If this thing starts running you want to be able to have options to buy in lower. Read up on the strategy if you have not already. We already made some scalps while this thing has been moving down. Don't stress, don't use leverage and pick your points!! -Sherem My call identifying the LTC top - Longer post identifying the buy zones -
BITSTAMP:LTCUSDShort
by Sherem
Litecoin has made a bearish exit, potential drop!LTCUSD has made a bearish exit signaling that we could be seeing a change in momentum from bullish to bearish. We’re seeing 1st major resistance at 215.03 (Fibonacci retracement, horizontal overlap resistance, breakout level) and a strong drop from here could drive price down to 188.20 support (Fibonacci extension, horizontal swing low support). Stochastic (21,5,3) is seeing major resistance at 92% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDShort
by Tickmill
4
Litecoin shooting up nicely, good upside potential!Litecoin has shot up nicely after breaking our wedge formation. Our 1st support is at 212.77 (Fibonacci retracement, horizontal overlap support, pullback support) where a further bounce could occur in pushing price up to 264.42 resistance (Multiple Fibonacci retracements, horizontal swing high resistance). Stochastic (21,5,3) is seeing strong ascending support hold up our bullish momentum well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDLong
by Tickmill
2
Litecoin forming a consolidation pattern,prepare for more bounceLitecoin is now consolidating really nicely within a wedge formation. We prepare for a potential bounce above 212 major support (horizontal overlap support, Fibonacci retracement) with our next major resistance at 264.42 (Fibonacci retracement, horizontal swing high resistance). Stochastic (21,5,3) can see an ascending support hold prices up and our bullish bias really well. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDLong
by Tickmill
Litecoin shot up perfectly as forecasted,potential for more rise Litecoin has shot up perfectly as forecasted and hit our major resistance level before slowing down. Another rise could occur above 214.38 support (Fibonacci retracement, horizontal overlap resistance) to push price up further to 264.42 resistance (Fibonacci retracement, horizontal swing high resistance, Fibonacci extension). RSI (34) is clearly above our major support lines which will maintain our bullish bias until broken Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDLong
by Tickmill
2
Litecoin testing major resistance, watch for the break!Litecoin is testing major resistance at 172.58 and a break above this level could trigger a move all the way u p to 213.62 (Fibonacci retracement, horizontal overlap resistance). We do have to be careful about strong intermediate resistance at 196.16. We can see a bit of a squeeze happening too with our ascending support line pushing price up steadily against the major resistance at 172.58. RSI (34) sees major resistance at 62% where a break above could trigger a change in momentum to bullish and open a bigger move up. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDLong
by Tickmill
LTCUSD has reacted nicely from descending resistance,keep watch!LTCUSD has risen to our long term descending resistance line, tested it and started to react nicely off it. The overall momentum remains bearish and our first major resistance is at 149.41 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, descending resistance) where further bearish momentum could drive price down to at least 108.41 support (Fibonacci extension, horizontal swing low support). Our long term descending resistance line is also adding a lot of bearish momentum to this setup. Stochastic (34,5,3) is dropping nicely from our 99% resistance with good downside potential. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDShort
by Tickmill
1
LTCUSD approaching major resistance, prepare for potential drop! LTCUSD has risen to major resistance at 149.41 (Fibonacci retracement, horizontal overlap resistance, Fibonacci extension, descending resistance) and a strong reaction could occur at this level to drive price down to at least 108.41 support (Fibonacci extension, horizontal swing low support). Our long term descending resistance line is also adding a lot of bearish momentum to this setup. Stochastic (21,5,3) is seeing major resistance at 99% where a corresponding reaction could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDShort
by Tickmill
1
Litecoin has reached our support as expected, prepare for bounce Litecoin has dropped further as expected and is now testing first major support at 135 (Fibonacci extension, horizontal swing low support) and a bounce could occur at this level to see an intermediate corrective bounce up to 165 resistance (Fibonacci retracement, horizontal overlap resistance). Stochastic (34,5,3) is seeing major support above 5.6% where a corresponding bounce could occur. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDLong
by Tickmill
1
Litecoin consolidating strongly for a potential dropLitecoin continues to test strong resistance at 183 (descending resistance line, Fibonacci retracement, horizontal overlap resistance) and a strong reaction could occur at this level to push price down towards 167 support (Fibonacci extension, horizontal swing low support). We have to keep an eye out on our ascending support line as only a break of that would signal a stronger potential bearish acceleration downwards. RSI (34) sees intermediate descending resistance which is in line with the descending resistance we are seeing on price too. Trading CFDs on margin carries high risk. Losses can exceed the initial investment so please ensure you fully understand the risks.
BITFINEX:LTCUSDShort
by Tickmill
6