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Litecoin forecast for 03/05/21 – BUY SELL. Result for February + 10.93%



DATE OF PUBLICATION: 2021-03-05 14: 50: 141. Volume analysis for the LTCUSDT instrument from the Binance exchange. 2. Long-term trend analysis 3. Analysis of the medium-term trend 4. Analysis of the short-term trend 5. Japanese candlestick analysis. 6. Conclusions. 7. Statistics. 1. Analysis of volumes for the instrument LTCUSDT from the Binance exchange. For the analysis, data on horizontal volumes from the Binance exchange on daily charts are used. The analysis is based on the Footprint-Profile theory, in which the movement of the maximum volume level for the day can indicate the likely direction of the trend. The maximum volume level is the level at which the maximum number of transactions was made, that is, the level of a large player. Accordingly, the upward movement of the maximum volume levels indicates an uptrend. A downward movement of the maximum volume level indicates a downtrend. Chaotic movement of maximum volume levels indicates a flat on the market. 03.03.21 – Maximum horizontal volume level (POC – Point Of Control) – 19404.03.21 – Maximum horizontal volume level (POC – Point Of Control) – 185POC moved down, the price is below the level ROS. Perhaps a downward movement has begun, you can sell. 2. Long-term trend analysis Trend is a friend of the trader. Many traders know this saying but don’t know how to use it. The answer is simple: trade only in the direction of the trend. This way your trades will have more profit potential with less risk. According to the classic Dow theory, there are three main trends: long-term; medium-term; short-term. It is all these trends that need to be analyzed before opening any trade. This is what we will do in this analysis. The long-term trend in this analysis is the daily trend. Deals will be executed on the daily timeframe and held for several days. The analysis of the daily trend is carried out using the EMA (48) – an exponential moving average with a period of 48. If the daily candle closed above the EMA (48), then we have an uptrend in front of us and should be bought. If the daily candle closes below the EMA (48), then the trend is downtrend and should be sold. The price of the EMA (48), the long-term trend is sideways, you can buy and sell. 3. Medium-term trend analysis In this analysis, the medium-term trend will be the trend on the 4-hour chart (H4). EMA (48), an exponential moving average with a period of 48, will also be used for analysis. If the H4 candlestick closed above the EMA (48), then the trend is up and you should buy. If the H4 candlestick closed below the EMA (48), then the trend is downtrend and should be sold. The price is below the EMA (48). Medium-term trend is downtrend, you can sell. 4. Analysis of the short-term trend. A short-term trend, which can show the point of entry into the market well, will be considered a trend on the H1 timeframe. We will be helped by EMA (48) – an exponential moving average with a period of 48. If the H1 candlestick closed above the EMA (48), then the trend is up and you should buy. If the H1 candlestick closed below the EMA (48), then the trend is downtrend and should be sold. The price is below the EMA (48). Short-term trend – downtrend, you can sell Long-term, medium-term and short-term trends do not coincide. 5. Japanese candlestick analysis. Classic Japanese candlestick analysis is applied to the daily timeframe. In this analysis, we will also analyze the daily candle. Close of the daily candle is down, the candle is black. Extrema inside the extrema of the previous candle. Candle configuration – Harami. Downward movement is likely 6. Conclusions. Bulk analysis – SELL. Long-term trend – BUY SELL. Medium-term trend – SELL. Short-term trend – SELL. Japanese candlestick analysis – SELL. General conclusion: 03/05/21 – you can buy and sell. 7. Statistics.To analyze the effectiveness of this approach, statistics are kept on completed transactions. Forecasts are made and transactions are made in four instruments: Bitcoin, Ethereum, Litecoin, BCHUSD. See other articles. Trading account monitoring: Result for February 2021 + 10.93% .Statement: This deal was opened: 03.03.21 Litecoin BUY: 194.56 SL: 167; Risk per trade: 1% of the deposit. When you deposit $ 10,000, the lot is 0.04. For new deals, the stop loss is located beyond the daily extremum. We do not set a take profit, since we will accompany the transaction by moving the stop loss beyond the extremes of new days. Since trading is carried out on daily charts, this recommendation is relevant throughout the day. Trade with the trend and you will be in the black! Material provided by the company InstaForex – www.instaforex.comSource – InstaForex

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