How much can you earn on trading to a novice investor. Part 99. 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

Our previous transaction brought in an income of $17, although the predicted maximum level of 80.00 USD turned out to be significantly lower than the actual increase in the price of Litecoin. 

In fact, with a certain amount of risk,a long position could be held up to 83.00 USD. A green trend line runs in this area, and the likelihood of a reversal with a subsequent jump down was very high. Therefore, we strictly adhered to the trading plan, and now furtively regret the lost profit of nine bucks.

As can be seen from the chart, the LTC price actually broke through the trend line and quickly rolled back to the support of 77.70 USD. The decline continued over the weekend and stopped atstropocent fibonacci, which deployed the pair for recovery. 

It was planned to enter a long position immediately onreversal, so the limit order was placed at 70.00 USDT, and the stop order at the 100% fib level (69.40 USDT). Placing a protective order so close turned out to be not very wise, because before the start of growth, market makers knocked out everyone who wanted to buy at the bottom. 

We had to re-enter at 70.40 USDT, and move Stop Loss lower to 68.40 USDT. The ForkNews forecast assumed a market recovery at least to the area of ​​average prices, and today there is a chance to break through the resistance of 77.70 USD and test the green trend line. According to our calculations, this is approximately around 87.00 USDT. We will place a sell order in the green Take Profit zone.  

If the bulls cannot break through the resistance of 77.70 USD, then it is best to raise the stop order in advance to the level of average prices (75.40 USDT) and limit possible losses from the decline. 

That's all ... We are waiting for a breakthrough into the trend line area and updating the annual maximum!

Read about the actual result of our trade in the next issue of ForkNews.