Litecoin - Play the Pump and Dodge the Dump

Full post on my Yours blog (in my signature) with lots of complimentary fundamental analysis and an optional trading structure and update thread.
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Litecoin is goin’ up, and many people are ecstatic. Congratulations to all LTC holders on realizing gains on your investment. I know with how this coin dumps during downswings that it hasn’t been easy. To those who had strong hands, you earned your money.

I believe that when investing, fundamentals are everything. You start with a bed of fundamentals and then technicals are the next step.

When day trading, fundamentals matter pretty much not at all. It's all about what's going up and what's going down, and people chase these gains to various degrees of success (or lack thereof).

So, which path to follow comes down to whether or not you’re here to play the pump and dodge the dump, or here to invest in Litecoin.

Right now, the pump is starting to look over extended and it may have some pull back in store for it. That being said, it does look like it has room to move upwards and we may see a visit to the top of the yearly channel, and perhaps even beyond.

Check out Yours (in my signature) for more.

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코멘트:

Price action continues to break upwards towards $200.

This is a key level in the trade structure, but has come very quickly.

Update #1 to trade structure on Yours (In my signature)

코멘트:

Update #2 on Yours. Starting to wonder if we've run out of momentum before $200.

코멘트:

Nope. Just faking out. Take profit target reached. Next target incoming.

Happy trading Litecoin friends!

코멘트:

Update to trade structure thread on Yours (in my signature). Price has hit first target and quickly approaches second. Very bullish action. We may see a run even higher depending on how it reacts at second target.

코멘트:

Round 2 at short term double top

$235+ or death... hmmm...

코멘트:

Looks like no double top. Update #4 on Yours (in my signature).

Looks like there's more room to go, but it's a bit of a dangerous situation.

거래청산: 타겟 닿음:

Target reached. Update #5 to Yours post where I make recommendations for how to deal with this level, what to watch out for, and how to deal with further upward movement, if it comes.

코멘트:

This pattern at a top

Is generally not bullish. I am anticipating a dump. That being said, it's been very bullish and I am a relatively cautious trader.

I feel stoch and momentum are showing reversal, and immediate price action is also a small double top.

I prefer to take profit and manage risk more tightly. But there are various approaches that count as good.

Taking profit is required here though, in my opinion.

코멘트:

Earlier target was hit, for Yours readers. New update in the post. Looks like we did pretty well though it broke out further upwards overnight.

Right now it's looking like it may stall out here.

코멘트:

New update on Yours. Second, larger target reached. Still no pullback. This is not a good thing and the pattern stinks just like the IOTA scam coin pump did.

Be weary of retracements.

코멘트:

This extended period over 300, in my experience, is often whales keeping the price up so that they can use time to form their inventory sells and their short sells.

That being said, bulls gonna bull and it may merely retrace. Again, I warn that Litecoin is a coin that's often subject to violent corrections.

It's also due for pullback.