symmetryfx
Long

XRP Long - Price Pattern

BITSTAMP:XRPUSD   XRP / U.S. Dollar
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XRP Long - Price Pattern
Oct 13
Comment: On M15 timeframe:
- Price has BROKEN M15 resistance and RETESTED M15 resistance as support. The most recent
- M15 candlestick has printed a Bullish Engulfing candlestick representing that Buyer's are in control
Oct 13
Comment: Price is moving sideways right now for the most part. Maybe another break of resistance up next.
Oct 13
Comment: Important Note: XRP/USD is very correlated with the price of BTC/USD which I'm also monitoring. Same situation on the other chart some M15/M30 resistance has recently been broken, possibly some more upside soon. Price is ranging sideways for the most part.
Oct 13
Comment: BTC price seems to be in a really tight range, we could see a strong break out once price started to trend.
Oct 13
Comment: We just had a kick in BTC, some buy orders pushed up price. Nice bullish candlestick forming on M15/M30. Correlated XRP is also seeing a kick.

Once the XRP M15 candle closed in 3 minutes we can determine if new resistance has been broken and the overall bullish market flow is still confirmed.
Oct 13
Comment: Super bullish close on the last M15 candle. Buyers are in control / market flow is bullish
Oct 13
Comment: WOW! Crazy candlestick on the 1 Minute timeframe on Bitcoin a few minutes ago! HUGE $100.00 spike to the upside. For BTC, price has broken above a Weekly Trend Line Resistance, so it is in a Buy Zone... where large buy orders could be present.
Oct 13
Comment: XRP price has reflected this to a degree - but not as extreme. Buyer's are still in control. Market Flow is bullish.
Oct 14
Comment: Sideways price action. BTC just retested previous resistance as support. Once BTC starts trending upwards XRP will follow.
Oct 14
Comment: BTC M15 candlestick just printed solidly bullish above previous M15 resistance. (Bullish Engulfing variation). Let's see what happens next, market flow is still bullish.
Oct 14
Comment: XRP 1 Hour close right now just printed a Bullish Engulfing candlestick. A good size wick was printed on the Bitstamp 1H chart showing some buyer's exhaustion, however the Bitfinix chart does not show as big of a wick. Market flow is still overall bullish.
Oct 14
Comment: XRP 1H close was above previous resistance as well on the Bitfinex chart.
Oct 14
Comment: Interesting: I'm also watching the USDT/USD (Tether/Dollar) market on Kraken. There is some correlation when the price of USDT/USD goes down, BTC rises. Market flow is bearish on USDT/USD.
Oct 14
Comment: Additional bullish candlestick printed on the 1 hour timeframe. Broken resistance is confirmed. Market flow is bullish.

Comments

BTC price seems to be in a really tight range, we could see a strong break out once price started to trend.
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If Bitfinex (Tether) issue is not resolved next week I think the whole market is about to tank … it's a ticking bomb...
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@MaxL82, Price moves first, Fundamentals second - Paul Tudor Jones. Trading Price Action, allows you to flow with the market to catch the main trend - long or short.
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Not going there, we are going to .3
Reply
symmetryfx FernandoMocer
@FernandoMocer, Probability exists
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