LITECOIN short term trade (3 to 1 risk/reward ratio)
Let's keep it simple: bullish as fuck. Risk reward of the trade is quite good: 3 to 1.
First chart: 5min chart. Elliot Wave Symmetry and Technical Analysis point to the same direction.
Let's see if this trade makes sense in the slighly above "timeframes" (30min charts). Yes, it does.
Finally, let's see how this trade also makes a lot of sense in the bigger picture.
For educational purposes only.
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I’ve got my sells on for around $155. I’ve been swing trading the 145 level.
Disagree. This is a clear bullish flag.
If I had to swing it, I would tighten up my stop loss and would get a >7 to 1 R/R ratio.
I’ll defently look at tightening.