LTCUSD Technical Analysis 4 hour - Sideways but slightly bullish

27 нояб. 2018 г.

Hi there.

Current state:

We are currently out. Have USD in hand.
We were stopped out of our previous trade.

Indicators/Charts analysis:

• RSI: Neither overbought or oversold. However it is trending up. Indication of buying action.
  
• Stoch RSI: Went into oversold territory and started to drop, however it is looking like it will be reversing possibly.
  
• Bollinger Bands: Expanding less and less as price continues to drop. Indication that the price standard deviation is less and less each time the price drops, signaling a possible upcoming pullback. Price action has also been hovering around the media trying to push trough.
  
• EMAs: 12, 26 mostly parallel. Attempt to cross happened earlier as well. Still trending down indicating bearish trend.
  
• Awesome Indicator: Humps keep getting smaller and smaller and it is getting closer to the 0 line. This signals a trend in the up direction.
  
• Volume: Volume has been sizeable, however I believe it is sizeable due to the price drop. There has been more buy volume than sell volume above the MA 26.
  
• PSar: Trending up for the last 8 periods. Indicates bullishness.
  
• Renko: Shows side movement. Initial up trend of 2 bricks prior to recording 1 red brick. Brick size has been updated to 0.94. Price is also approaching EMA 12.
  
• Renko RSI/Stock RSI: RSI in oversold territory. Stoch RSI in overbought territory. This signals a bullish trend. Remember the Stoch RSI is basically the derivative of the RSI. RSI has also been trending up in Renko.
  

Stop Loss:

None at the moment. Strategy is based on risk management by only trading 50% of the account size. If price drops, we will use the other 50% to lower price point.

Target:

$32.75 (+10.64) based on Fib retractment channels.

Alarms:

None.

Conclusion:

We are entering a trade with 50% of the account size to mitigate risk of further price drops.
Strategy is chosen given that price has been dropping for several days now without a single pullback. Pullback is expected soon.

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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**

28 нояб. 2018 г.

Сделка закрыта вручную

im taking profit now. I am not sure the trend will continue up. Will wait for better aignals before entering another trade.