Maybe it was better to wait until XRP breaks the resistance line but i went for it, going short for a nice 7% DROP. I'm using my own JP MASTER indicator to determine the right moment to enter, this in combination with my own RSI and STOCH indicators.
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Let's break the next resistance line !
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How low can you go ? I'm setting a takeprofit at 10% and let it run. The other takeprofit is when we have a close above the cloud.
Trade closed manually
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I'm taking my profit, RSI oversold, STOCH oversold and price going up. I think it's better to take profit and if it drops again re enter.
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Tried to re enter but the price is going all over the place, i'm taking a break :)
Nice idea on XRPUSD and there may be potential gains as you have identified by going short. Currently price is approaching our 1st support level at 0.4548, which is just above your 0.44177 support level. It is a horizontal swing low support with 61.8% Fibonacci retracement. RSI is seeing a bearish exit and we might see a corresponding drop in price. If a corresponding drop does occur, we may want to take a look at the 0.3757 major support level. It is a horizontal pullback support, with a 76.4% Fibonacci retracement. Excited to see how things develop.
Please take a look at our idea and share with us what you think.
Please take a look at our idea and share with us what you think.