Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
Looking at the longer time frame for LTC i'm still very bearish. LTC has yet to test a support level which it had made a long time ago, at the green box. I see it testing this level in the future, followed by a very fast swing back up to test possibly new highs. This trade may take a while, but can be a very profitable trade. My advise would be to set some ladder orders at the green box, with a tight stop around 20 dollars below the lowest wick in that range.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
Looking at the longer time frame for LTC i'm still very bearish. LTC has yet to test a support level which it had made a long time ago, at the green box. I see it testing this level in the future, followed by a very fast swing back up to test possibly new highs. This trade may take a while, but can be a very profitable trade. My advise would be to set some ladder orders at the green box, with a tight stop around 20 dollars below the lowest wick in that range.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price.