Whats Up Guys -
Updated XRP Chart at the request of the trollbox - My opinion on XRP is still neutral - could go either way. Like the other alts, big bitcoin moves affect them SO MUCH.
Ten Likes and I will update the chart
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
Updated XRP Chart at the request of the trollbox - My opinion on XRP is still neutral - could go either way. Like the other alts, big bitcoin moves affect them SO MUCH.
Ten Likes and I will update the chart
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
Comment:
Whats up guys, thanks again for more likes!!
Again, not much has changed really. It is following our descending wedge pattern very very nicely. . . so a couple of points . . .
- We are still waiting for a confirmation above the upper resistance line of the descending.falling wedge.
- In a nutshell, the longer the confirmation, the better, but as we all know, in this market, moves happen FAST sometimes so we dont always get the luxury of all the confirmation we desire. That is where very tight STOP LOSSES come into play.
Lets see what happens - set your alerts to notify you if the price breaks above the upper resistance line on your own charts so you can get back to make a trade if the signals are all there.
I will update the post if i enter a trade. But I will be at a funeral today and may be a little jammed up.
Ten Likes and I will update the chart
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
Again, not much has changed really. It is following our descending wedge pattern very very nicely. . . so a couple of points . . .
- We are still waiting for a confirmation above the upper resistance line of the descending.falling wedge.
- In a nutshell, the longer the confirmation, the better, but as we all know, in this market, moves happen FAST sometimes so we dont always get the luxury of all the confirmation we desire. That is where very tight STOP LOSSES come into play.
Lets see what happens - set your alerts to notify you if the price breaks above the upper resistance line on your own charts so you can get back to make a trade if the signals are all there.
I will update the post if i enter a trade. But I will be at a funeral today and may be a little jammed up.
Ten Likes and I will update the chart
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
Comment:
Broke out for a minute and a quick retrace - im thinking we should see some action soon.
Comment:
Whats up guys -
This is a good example of confirmation importance. I say this often, the alt coins depend highly on the swings of Bitcoin (The rising tide lifts all boats - - - or sinks).
Please remember my chart was "neutral" and i pointed out some very Bearish comcerns with the chart - selling at the breakthrough of the falling wedge 'upward' resistance line would have been just as solid a play with appropriate confirmations.
Personally i was sleeping, zzzz. So i couldnt update the chart.
Scratch this chart - I'll have to make a new one.
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
This is a good example of confirmation importance. I say this often, the alt coins depend highly on the swings of Bitcoin (The rising tide lifts all boats - - - or sinks).
Please remember my chart was "neutral" and i pointed out some very Bearish comcerns with the chart - selling at the breakthrough of the falling wedge 'upward' resistance line would have been just as solid a play with appropriate confirmations.
Personally i was sleeping, zzzz. So i couldnt update the chart.
Scratch this chart - I'll have to make a new one.
Intelligent disagreement welcome
Good Luck - See you on the trading floors
www.bitmex.com/register/2Zkkvg
#Crypto #BTC #cryptocurrency
Twitter @willn12416
-Nix
Order cancelled
Comment:
New Twitter Address:
Twitter @WillNixxx
Twitter @WillNixxx
So not much has changed really - the falling wedge chart is looking accurate so far, with price action bouncing off the upper resistance line of the falling wedge.
We're still looking for a confirmed breakout - at a minimum, a confirmed breakout to me would be constituted with a closed 15 minute bar Noticeably above the upper resistance. As you see, the resistance bar is not an exact science, and it is NOT UNCOMMON that a little break above and below the support and resistance lines occur, ESPECIALLY ON THE SHORTER TIME FRAMES.
The longer time frame of any bar closing above that line (1 hr - 4 hr), or,
the several bars confirmed above, or
a confirmation above - followed by a retrace and a bounce off of the upper resistance line
Would all even be BETTER confirmation!
Lets try to get nine more likes and I will update this chart again.
As always, i will update the chart when I enter a trade.
Thanks everyone for your support.