LTC USD Technical analysis - Wait for confirmation to buy
LTC on a downtrend for the 4 hour period.
I hope you got out when price crossed EMA 12
Wait for a couple Renko bricks in the up trend to consider getting back in
Confirm trend with indicators:
If trend continues up from Nov 2, entry point is likely to be slightly above 55.44
Follow the trend. Don't try to buy at the very bottom and sell at the very top. Instead confirm trend, get in and get out before trend ends. Usually this means candles will be above EMA 12 and whenever prices cross EMA 12 on the way down, you should sell.
I hope you got out when price crossed EMA 12
Wait for a couple Renko bricks in the up trend to consider getting back in
Confirm trend with indicators:
- Stochastic RSI leaving oversold territory (crossing into shaded area)
- Acc/Dist on its way up
- EMA 12 above EMA 26. EMA 50 parallel.
If trend continues up from Nov 2, entry point is likely to be slightly above 55.44
Follow the trend. Don't try to buy at the very bottom and sell at the very top. Instead confirm trend, get in and get out before trend ends. Usually this means candles will be above EMA 12 and whenever prices cross EMA 12 on the way down, you should sell.
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