June 18, 2024

How much can you earn on trading to a novice investor. Part 86. Trading (continued)

How much can you earn on trading to a novice investor. Part 86. Trading (continued)

We continue the series of publications about trading in order to understand in practice how much you can earnnovice investor using only forecastspublished on our website. To understand how useful they are, we decided to conduct an experiment and simulate a situation in which a person who knows about trading only what you need to “buy cheaper and sell more expensive”, tries to get additional income in his spare time by investing part of his money in cryptocurrency trading

According to today's ForkNews forecasts, the price of Litecoin may consolidate at the Point of Control line for a short period of time.Today, we can expect some recovery of the pair to the area of 55.55 USD, but further recovery will belimit itself to the four-hour EMA55. 

How much can you earn on trading to a novice investor. Part 86. Trading (continued)

Soon, the bears will be able to pull the price back to the support of 54.00 USD.level, presumably, it will not be able to keep the price frompullback to the bears' target level of 61.8% Fibo (51.38 USD). 

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Despite this, you should not count on a sharp bearish impulse to the area of the target level.The pair may slowly fall into the support zone and stay flat around 52.00 USD for a long time. 

We have already used this level of support once and were able to make money on a "long-playing" recovery.It remains to be seen whether there will be a second such opportunity. 

For now, we decided to stay out of the marketon this tool and more carefullylook closely at the dynamics of the pair in flat. When there are more optimistic forecasts for price recovery, we will be able to find a suitable entry point to a long position.

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