LTC: Fib Retracement for Target After Breakout
How to Use Fib Retracement:
For a downtrend, select a significant swing high and drag to a later significant swing low
For a uptrend, select a significant swing low and drag to a later significant swing high
Fib Retracement levels can be used to identify potential targets after a breakout to the upside or downside.
In this example, I used 2, the one the left beginning in around Jan (larger trend) and the one the right beginning around mid Aug (smaller trend). Once we have a confirmed breakout like here with LTC, we can use these levels to determine potential targets to take profits. In this case, I gave an example Long trade where I expect to TP around 40% of my position around $80 and let the rest ride until it either reaches another Fib level or until I expect a reversal.
For a downtrend, select a significant swing high and drag to a later significant swing low
For a uptrend, select a significant swing low and drag to a later significant swing high
Fib Retracement levels can be used to identify potential targets after a breakout to the upside or downside.
In this example, I used 2, the one the left beginning in around Jan (larger trend) and the one the right beginning around mid Aug (smaller trend). Once we have a confirmed breakout like here with LTC, we can use these levels to determine potential targets to take profits. In this case, I gave an example Long trade where I expect to TP around 40% of my position around $80 and let the rest ride until it either reaches another Fib level or until I expect a reversal.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.
כתב ויתור
המידע והפרסומים אינם אמורים להיות, ואינם מהווים, עצות פיננסיות, השקעות, מסחר או סוגים אחרים של עצות או המלצות שסופקו או מאושרים על ידי TradingView. קרא עוד בתנאים וההגבלות.