LTCBTC Long

١٧ فبراير ٢٠١٨

I love this kind of trades where you have a clear entry and a clear stop loss .

RSI is making divergences on different time frames.
bottom seem to hold
we had a bounce and a drop that re-tested the support .

On the daily, today it looks like a doji at the bottom of ta bull flag.

١٧ فبراير ٢٠١٨

تم فتح الصفقة

LETS GO CHAMP

١٧ فبراير ٢٠١٨

ملاحظة

if the support fails, i m going short.

١٧ فبراير ٢٠١٨

ملاحظة

double top , we're at the neckline . if recall correctly, only 30% actually break the neckline. So i m keeping my long for now

١٧ فبراير ٢٠١٨

تم إغلاق الصفقة يدويًا

١٨ فبراير ٢٠١٨

ملاحظة

Post trade analysis:

BTCUSD was forming a triangle that was likely to shoot upwards( and it did).

Case 1. BTC shoots upwards and rallies for a bit : LTCBTC goes down or sideways at best. (It can't compete with the short term rally of the BTCUSD pair)

Case 2. BTC triangle breaks downward. : LTCBTC goes sideways or down. The chances for a LTC rally when big daddy BTC is falling is low.

Strong BTC movements in any direction tend to cause alts to bleed.
Conclusion: Long was a low probability trade. A good stoploss saved me from bagholding