How much can you earn on trading to a novice investor. Part 95. 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

Last week, ForkNews predicted that the price of Litecoin could soontest the resistance at 64.00 USDT. 

On January 10, we managed to buy 3 LTC at the rate of 44.00 USDT per coin, with the goal of growing to the 64.00 USDT mark.Last Friday, the bulls finally managed to break through the resistance of the 78.6% Fibonacci level (59.31 USDT) and continue to growto our target Take Profit level (63.50 USDT). 

Unfortunately, growth cut off at an annual high63.26 USDT, but our sell order was never executed. As a result of a deep pullback, the LTC price returned to support of 56.00 USDT. Recall that our Stop Loss 2 level is at around 54.00 USDT. Considering that since the beginning of this week, the price of LTC has hung in the flat, we also hung in a long position in the hope of continued growth.

 

According to today's forecasts of ForkNews, the situation is quite shaky, and if the level of average prices is helddrawdown, buyers could again gain a foothold above the 78.6% Fib (59.31 USDT).This will allow the bulls to refresh the yearly high in the 64.00 USDT resistance area. 

Otherwise, the bearish activity is able to pull the price back below the support of 56.00 USDT.In our case, it makes sense to move the Stop Loss level 2 (54.00 USDT) to 56.00 USDT (Stop Loss 3) and continue to monitor the further dynamics of the pair. 

With what result our long position will close, read next Wednesday, in the next ForkNews publication on trading.

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