Main trading ideas on financial markets for 17.10.2018

LTCUSD

After a strong upward movement, Litecoin is drawing a “bullish flag” continuation pattern. Now cryptocurrency is testing $52.50 level. It is the “neck” of the previous bullish pattern “inverse head and shoulders”. Therefore, if the coin bounce from $52.50 level we will have a great opportunity to strengthen our long position. We will start a second buying stage after the 61.8% Fibo ($53.8) level is broken. Our common target is $62 where 23.6% Fibo is. However, it will be cautiously to close a part of the long position at $59 – 38.2% Fibo level.

GOLD

The Cayman Indicator has reached the minimum value in Gold since April 2018 and now is moving to neutral zone. It means that the long-term overbought in XAUUSD has finally finished. XAUUSD rose above 23.6% Fibo level at $1210. We will put a Stop loss order under this level and will hold the bullish position in Gold as long as Cayman is lower than 60% value. Our first target is $1250.

So our targets for:
LTCUSD – is buying to $62 level
XAUUSD – is buying to $1250 level.