kokopuffs

XRP - 7:1 Risk Reward Trade

Long
BITTREX:XRPBTC   XRP / Bitcoin
A major dump off the past few days.

Here is what you can look forward to.

There is a symmetrical triangle that has formed. It will consolidate and break upwards or break downwards.

Given the fact that we are on the trendline for XRP, we can most likely estimate that it will bounce up from it.

Becareful of low volume fake breakouts.

Good luck.
Trade active: Didn't expect it to pump right after I posted.

Wast expecting at least 4 hours but okay. lol.
Comment: Careful. Might be fake breakout... lol almost didn't heed to my own warning.

Volume was low. Care.

Comments

Hiya Puffs, and when may we consider a volume big enough? It is kinda relative, isnt it?
Cheers for yout TA tho.
Reply
kokopuffs schizaar
@schizaar, what I do is look for the average volume... something during a "normal" period. If it shows enough increase from that point, I would join in.
Reply
Sedro kokopuffs
@kokopuffs, Congrats. Thank you.
Reply
schizaar kokopuffs
@kokopuffs, :) but then again what is 'enough increase'? 25-50-100% ?
Btw guess this aint a fake BO :)
Reply
kokopuffs schizaar
@schizaar, i dont understand what you are saying. The first spike didnt have much volume but you can see the prior to second spike volume increasing. That should've been enough confirmation.
Reply
schizaar kokopuffs
@kokopuffs, sorry if I wasnt clear. Just wanted to ask how do you know if the spike goes in pair with 'enough volume'. Havent checked interactive chart myself, at that time, so wasnt aware what volume is behind it or what would you consider a sufficient regarding this breakout as above chart is missing volume indication.
Thus asking what increase on average volume (25-50-100%) can be considered as a good confirmation.
Reply
kokopuffs schizaar
@schizaar, I don't know it there is a certain percentage but there is visible proof when looking at it.

Notice the first breakout had low volume and even the candles before it had low volume as well. The real breakout had gradual increase of volume and then an explosion.

Reply
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