Here is a weekly view with an active short trade. A stop loss is in protecting a small profit.
Here is a recent short trade on Litecoin, specifically LTC/USD. The first image shows the buy and sell levels and an orange line which is a Fibonacci level.
The price moved above that 23.6 level. We can see the price moving up to the level, consolidating around it, and moving higher.
The second image shows where the Fibonacci levels were drawn on a weekly chart
You might say that the price wanted to come down to test that level after moving through it to the upside.
I noticed the price of this pair was at a level near a prior swing high. There was an opportunity shortly after the entry to get a stop loss order in at breakeven. That was done and now we’ll wait to see how the price action unfolds.
One objective of these posts is to show that trading is work and takes some effort. This position might get stopped out by the end of session today (Friday). That would be fine. There will be opportunities next week.