I'm considering a long position in LTCUSDT at a price of $68.60. My analysis suggests that LTC is currently following a bullish trend, aligning with the principles of Dow Theory, and consistently forming higher highs and higher lows, indicative of a strong bullish trajectory.
To manage potential risks, I plan to set a stop loss at $65.50, just below the last lower low. This stop loss is designed to protect against adverse price movements.
For my target, I'm aiming for a 1:1 risk-reward ratio, with the initial target set at $71.80.
As always, it's important to remember that the cryptocurrency market can be highly volatile, so conducting thorough research and staying informed about market developments is crucial before making any investment decisions.
To manage potential risks, I plan to set a stop loss at $65.50, just below the last lower low. This stop loss is designed to protect against adverse price movements.
For my target, I'm aiming for a 1:1 risk-reward ratio, with the initial target set at $71.80.
As always, it's important to remember that the cryptocurrency market can be highly volatile, so conducting thorough research and staying informed about market developments is crucial before making any investment decisions.
Trade closed: target reached
TP HIT 🎯
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.