Risk Management & Trade Plan
Headline: LTC at MA60 Cliff Edge: High-Volume Breakdown or Trap? Here's the Safe Plan.
The Setup:
Conflict: Sharp drop to key support (MA60) on spiking volume suggests weakness, but key supports often trigger bounces.
Problem: Trading the initial break is risky due to potential false breakdowns.
The Plan:
Step 1: Wait for Confirmation. Do not pre-position.
Step 2A (Break Scenario): If price breaks & closes below 52.80, then shorts on a retest of 52.93 (old support as new resistance). SL: 53.30. Target: 52.00, then 51.00.
Step 2B (Hold Scenario): If price holds MA60 and prints a strong bullish reversal candle and closes above 53.50, consider a cautious long for a bounce to 54.50. SL: 52.80.
Core Message: Define your scenario and risk before the move. The high volume warns of momentum; trade the confirmed direction, not the anticipation.
$LTC #LTCUSDT #RiskManagement #WaitForConfirmation #Patience #BukhariTech