Can you read the chart yourself, or are you still dependent on other people like myself to read it for you? Do you have a trading plan with sheets, or are you trading from your head? Are you already making gains over the long-term, like a casino, or are you losing over the long-term, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. I wish you a good trading! :)
Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
There is also a supporting trendline just tested second time in the short term that is risky ... ;)
Edgy_
⋅
@Caveit, It's not visible from which lows you're drawing the trendline, but I have seen this pattern with you several times: you place too much importance on long drawn trendlines, not so much on clear S&R levels. concentrate more on the latter buddy. Thx for sharing! ;)
Caveit
⋅
@Edgy_, you are right on the shorter term ...
my longer term view is down here ... it's not a pure pattern of course but looks like a pennant, with a bull trap on top
now , also take a look at the last candles and some similarities with the beginning of this pattern ... may be i will be proven wrong , but looks like they are playing the same game and trying to trade XRP in this area
Edgy_
⋅
@Caveit, Micky. the lower white trendline is somewhere in blue sky, it doesn't get respected. Also to what you wrote me, that TA doesn't get respected so much in crypto, since we broke out in this case with XRP out of the EQ but still collapsed: This was due to BTC's correction my man, all the alts are correlated to grandpa.
DACapitalTrading
⋅
Amazing work! All the best mate
Edgy_
⋅
@DACapitalTrading, thx for the support my man, hope you're enjoying the German weather! ;)
similar view here ... we think alike :)
There is also a supporting trendline just tested second time in the short term that is risky ... ;)