Trade Recommendation: Litecoin

Trade Recommendation: Litecoin

This is a short term trade setup. There is good support with the 6 Day Rolling Pivot Range and Weekly Pivot Range low. The price is winding up with tighter ranges on each 60 minute candle and forming a clear channel.

The action to take is to buy with a confirmation above the recent channel high and look for a quick pop to the upside. See both profit targets stated and place the stop loss below the swing low for a good risk reward ratio.

Entry Price: 120.10
Stop Loss: 117.80
Profit Targets: First profit target 125.80. Second profit target 127.70 Once price reaches first profit target bring stop loss to breakeven (entry price).

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