This is the 1 minute chart for XRP. Fib Retracements and Extensions provide possible scenarios for consideration. This "ideas" are part of trade plan for my personal risk profile and others should develop there own. I use Bollingers, Fibs, MACD, RSI and PSAR. At times I confirm with patterns and other indicators such as Aaroons and Chaikin Oscillators. I also review all chart posts for intelligence gathering prior to my executions.
Each price level is an alert for me so that I can enjoy a good ol fashion Friday Night with friends.
I expect this current action will continue to retrace to the .618 or .786...I could also be wrong....but other indicators are showing lower conditions are in the wind. Also, a person posted about Asia and their influence. Those markets are under severe pressure from regulatory authorities and considering that they influence the market by 85 of the volume, one should not expect an infusion from Asia trading until a solution is had.
Remember this is a 15 minute chart and it is wise to use all time frames to get a clearer long term picture. Of note, the Daily MACD and PSAR are begining to show early signs of a change and possible reversal. A few more days will establish a clearer picture.
The redline on the chart represents the neckline of a HS pattern by @magicpoopcannon.
Each price level is an alert for me so that I can enjoy a good ol fashion Friday Night with friends.
I expect this current action will continue to retrace to the .618 or .786...I could also be wrong....but other indicators are showing lower conditions are in the wind. Also, a person posted about Asia and their influence. Those markets are under severe pressure from regulatory authorities and considering that they influence the market by 85 of the volume, one should not expect an infusion from Asia trading until a solution is had.
Remember this is a 15 minute chart and it is wise to use all time frames to get a clearer long term picture. Of note, the Daily MACD and PSAR are begining to show early signs of a change and possible reversal. A few more days will establish a clearer picture.
The redline on the chart represents the neckline of a HS pattern by @magicpoopcannon.
Comment:
I forgot to mention the current pricing is circa the Fib .236 and holding....This could go either way.
Comment:
Still Consolidating