RE: Daily LTC outlook - 20/12/2017

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Daily LTC outlook - 20/12/2017

in litecoin •  7 years ago 

the reason why I think so is because the daily candle shows weakness - it made a new high, but there hasn't been many buyers attracted by it and price fell after that. So ideally it should go toward the old high, make there a double top and fall to the retracement level.
To trade this in a speculative way I would use a sell Limit at 370 with a sl at 380 and 260 as target. Otherwise it would be possible to wait if it can break through 325 and then a target at 260.
Surely also a buy stop above 375 with an sl at 325 is also possible - but in my opinion the risk/reward for that is not very good.

well, just my 2 cents

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