Ripple with a Chance to Break UP! (30-60% Profit Targets) READ
Ripple with a Chance to Break UP! (30-60% Profit Targets)
Hello fellow traders, today will be the day I will begin to start publishing my ideas, as I believe we are approaching the end of our bear market cycles and are just starting to begin the historic bull run that many of us traders saw last summer.
Here, the first chart I am bringing to you guys is RIPPLE(XRP)
Charting:
1) We have a simple linear statistical regression, allowing statistics to capture a mathematical analysis of where ripple has been following in terms of trend. I have changed the colors from the default to indicate the bottom of the channel green, and top of the channel red. Many swing traders will scalp the markets using linear regression to allow math to show them the change of trends.
When charting, I like to draw my own trend lines as well as utilize this regression tool to find a happy medium between my illustrations and statistics.
Ripple is approaching the top of the trend and has formed a symmetrical triangle setting up a BREAK UP OR BREAK DOWN. We do not know the direction the triangle will break. THEREFORE, it is integral to WAIT and LOOK and volume. Volume will tell us the direction of the break, AND THE CHARTS WILL PRESENT A RETEST OF THE BREAKOUT.
This idea of a "RETEST" is important to understand to eliminate FOMO (Fear of Missing Out) on breakouts, and premium positions.
2) We have the AQUA trading zone, as this represents the accumulation of Ripple when the coin is not running up or down and rather SIDEWAYS. We had a break out of the rectangle, but we are on the verge of making a definite very soon.
3) Pay attention to volume, as we can see, there has been some false breaks of ripple as the price shoots up and then comes down as resistance. Do not fall for the mini pumps as the real break will be too significant to pass up.
4) Lastly, Moving Averages. I like to use 3 Moving averages them being 50,100,200 MAs respectively. I like these for my own taste because it gives me boundaries of price when compared to a tighter couple like 12, 26 Mas. From this analysis we can determine that there is a SQEEZE in price and moving average lines. When Sqeezes occur, the price battles sideways along little range of the moving averages, signally a breakout is imminent.
These are my few cents on ripple and am interested in earning my followers profit by following my educational analysis. This is not financial advice.
If you have any questions or thoughts on this educational analysis please feel free to comment below. Thank you!
Hello fellow traders, today will be the day I will begin to start publishing my ideas, as I believe we are approaching the end of our bear market cycles and are just starting to begin the historic bull run that many of us traders saw last summer.
Here, the first chart I am bringing to you guys is RIPPLE(XRP)
Charting:
1) We have a simple linear statistical regression, allowing statistics to capture a mathematical analysis of where ripple has been following in terms of trend. I have changed the colors from the default to indicate the bottom of the channel green, and top of the channel red. Many swing traders will scalp the markets using linear regression to allow math to show them the change of trends.
When charting, I like to draw my own trend lines as well as utilize this regression tool to find a happy medium between my illustrations and statistics.
Ripple is approaching the top of the trend and has formed a symmetrical triangle setting up a BREAK UP OR BREAK DOWN. We do not know the direction the triangle will break. THEREFORE, it is integral to WAIT and LOOK and volume. Volume will tell us the direction of the break, AND THE CHARTS WILL PRESENT A RETEST OF THE BREAKOUT.
This idea of a "RETEST" is important to understand to eliminate FOMO (Fear of Missing Out) on breakouts, and premium positions.
2) We have the AQUA trading zone, as this represents the accumulation of Ripple when the coin is not running up or down and rather SIDEWAYS. We had a break out of the rectangle, but we are on the verge of making a definite very soon.
3) Pay attention to volume, as we can see, there has been some false breaks of ripple as the price shoots up and then comes down as resistance. Do not fall for the mini pumps as the real break will be too significant to pass up.
4) Lastly, Moving Averages. I like to use 3 Moving averages them being 50,100,200 MAs respectively. I like these for my own taste because it gives me boundaries of price when compared to a tighter couple like 12, 26 Mas. From this analysis we can determine that there is a SQEEZE in price and moving average lines. When Sqeezes occur, the price battles sideways along little range of the moving averages, signally a breakout is imminent.
These are my few cents on ripple and am interested in earning my followers profit by following my educational analysis. This is not financial advice.
If you have any questions or thoughts on this educational analysis please feel free to comment below. Thank you!
Comment:
XRP Has now fallen below our aqua accumulation trading region, and is progressively showing more sell volume than buy volume as depicted from the Volume indicator. THIS IS WHY IT IS IMPORTANT TO READ and WATCH for significant volume and breaking of the regression channels before any entry is made.