Short Double Top then Pullback on XRP
Trade closed manually:
After a successful first run from 1 to 7 October, betting on a double top and the need to correct an astonishing climb from 18 to 21 September,
I had to close without profit my short launched on October 09 on the pullback, because the unexpected drop in the price of the Tether (-20%) led to an equally sudden buying movement on Bitcoin, reverberating to all cryptos, including of course XRP (Oct. 15), disabling my second short-term target.
This is a good example of how difficult it is to be able to apply chartism directly to the price of a dollar-paired Altcoin that can be swept away by King Bitcoin's escapades at any moment! ;)
I had to close without profit my short launched on October 09 on the pullback, because the unexpected drop in the price of the Tether (-20%) led to an equally sudden buying movement on Bitcoin, reverberating to all cryptos, including of course XRP (Oct. 15), disabling my second short-term target.
This is a good example of how difficult it is to be able to apply chartism directly to the price of a dollar-paired Altcoin that can be swept away by King Bitcoin's escapades at any moment! ;)
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