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Trade Recommendation 14.10.2017: Litecoin

The trading idea is based on a breakout signal above the previous swing high. If the market can’t move above 61.00 level and reverse, we’ll have a double top chart pattern. For confirmation this pattern the price will have to drop below 55.00 support level. If so, we should expect for the market falling to 50.00 level at least. But if the price moves above the previous high, we’ll get an additional confirmation of further upward movement. In order to catch such price movement, we can place pending orders for buy at 61.00 level. Stop orders must be at 54.00 level. Profit targets are 72.00 and 80.00 levels. If you don’t use leverage, recommended trading volume for this trade is up to 5% from your deposit.
Market: LTCUSD
Buy: 61.00Stop: 54.00Profit Targets: 72.00 and 80.00
The trading signal is based on Poloniex chart.

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