The price for LTCUSD remains with a bias is to the downside with the price trading below the 3 day Rolling Pivot Range (green, yellow dots). However the Daily Pivot Range (blue dots) are neutral at the time of this writing with the price action staying inside the range for the past few hours.
With today’s Opening Range (whiter background) also holding resistance be careful about buying at this moment.
Daily Pivot Moving Averages (red,yellow, white lines) remain pointed downward which is bearish on this 60 minute chart. As well the 14 day and 30 day Daily Pivot Moving Average crossed the 50 day Daily Pivot Moving Average. This is bearish on a longer term basis.
The action to take is to place sell stop entry at 16450 below the recent low, and if triggered place the stop loss and profit targets as stated below.
Note: this trade recommendation is good for today and will expire at UTC 0800.
Entry Price: 16450
Stop Loss: 17903
Profit Targets: First profit target 15450, 2nd profit target at 14450. Once first profit target is reached, bring stop loss to breakeven.
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