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CFD Litecoin LMAX forum

11 minutes ago

anyone else have a hard time convincing people to diversify in this coin

8 hours ago

end of memes bubble? dying to. At the other corner we have old coins which doesn't seems to care about the drop like

2 days ago

tl;dr previous post -
I'm looking for 117-119 for bigger entries and a potential scalp at 122.5 if price comes down to those levels. Would feel sketch if it fell and closed under 115 on 1H, wicks are to be expected, pay most attention to candle closes.

As always the risk is that price can continue to just fall down without much reaction, so be wary and take any opportunity to put a stop loss in profit.

2 days ago

I’ll preface by saying I missed the possibility of the bounce being at 125, I did not see the triangle retest that also bounced on the 0.786, could be big if plays out, looks nice now.
I also put this together a couple of hours ago and since then the price action has not played out in the way I thought it would, which may invalidate this scenario, also may raise the likelihood of 122.5 being a better entry than I originally thought, though I’m still cautious.

Image is a potential scenario and might just end up being completely unnecessary. I’ll post anyway as a backup plan in in the case that this current move SFP’s. The actual price path drawn will likely be incredibly different (if not outright wrong) and could play out very quickly or very slowly.

My opinion is that BTC is likely heading down to the lower end of the range – If and how these levels are hit for LTC depends on the if, when and how of BTC’s move, but they are worth keeping in mind if we do see lower prices from here and if it turns out that the downward structure is more complex than the seemingly bullish 3 wave structure that it could be speculated currently.

122.5 – This entry has a fair bit of merit; I will be taking it based on that. The 200 SMMA could even be at that level by the time price moves there, but as things stand, I do not have high hopes of it playing out, could be a good scalp or potential entry though, but would be setting stop loss in profit as soon as possible as it approaches 125.

117-119 – These the levels I’m waiting for, I would expect it to be a wick down to these levels on and above the 1H charts so I’ll have a couple of limit orders there, I wouldn’t like it if it hung around underneath 119 and wasn’t back above 122 within a couple of hours.

Hopefully it's not a more nasty move than it looks to be currently but as I said, in the case it is, here's a couple of scenarios that could help to have in mind.

2 days ago

🔥 Scalping Strategy:
🩸 Buy: $122 - $124 → Target: $130 - $132
🩸 Sell: $134 - $135 → Target: $128 - $126
🩸 Stop-loss: Above $137

🔥 Mid-Term Forecast:

Break above $135 → Target $140 - $145
Drop below $124 → Target $118 - $120