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.
------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------ If you like this, you can donate LTC to:
LZKza6vBcBnkfaDMHYXXUd6ud8Jf87Lfm3
Any donations will help me keep posting analysis. Also, don't forget to share your comments! ------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
İşlem elle kapatılmış
im taking profit now. I am not sure the trend will continue up. Will wait for better aignals before entering another trade.
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.