Welcome to another trade idea for entry and potential profits. Currently, litecoin is making a consolidation pennant
. The idea for this trade is simple: wait for the bollinger bands
to tighten up on litecoin, and then after they are sufficiently tight, litecoin will break out of its consolidation pennant
. A break to the downside would mean sell / short / or otherwise do not touch. A break to the upside is a potential buy signal. 4 hour candlesticks
used for this chart. Heiken Ashi candlesticks
used to identify potential trend to ensure that there is not a "fakeout" manipulated breakout to fool traders by market manipulators. Bollinger bands
in play, as well as a hand-drawn consolidation pennant
resistance and support.
I am not involved in this trade until I get a clear signal - 2 candlesticks
of the same color as well as breakout with sufficient volume
Please note that I am not a certified securities professional. I am not qualified to give a recommendation. I am not giving a recommendation. Past performance is not indicative of future performance. Please consult with your financial advisor before making any financial decisions, or otherwise do your own due diligence.