XRPUSD 30M RSI 80-20 REVERSAL TRADING STRATEGY Short

XRP / DollarBitfinex

Description

⋅ Feb 9, 2018 6:47 PM

Rules for RSI 80-20 Reversal Strategy on chart
Short Confirmations -
Divergence
Price stretched away above 50 sma
Macd Overbought & crossed below Red line
RSI Overbought and falling

Comment

⋅ Feb 10, 2018 3:58 AM

Market timing on this pair was wrong - 2 other possible short trades

Comment

⋅ Feb 10, 2018 7:23 AM

I had a buy stop and sell stop. Buy hit and take profit was made. Now I am watching for a morning star reversal bearish candle pattern to form and i will make another buy stop above previous take profit level.

Comment

⋅ Feb 10, 2018 10:47 AM

Morning star candle pattern formed for sell

Chart Patterns Technical Indicators Relative Strength Index (RSI)breakouttrading Divergence sellstop takeprofit resistence ripple xrpusd

Comments

ribame4

⋅ Feb 10, 2018 9:12 AM

it will come back to 0.90 range what do you think ?

now also RSI pretty high

Tradingstrategyguides

⋅ Feb 10, 2018 7:05 PM

@ribame4, I think it is working it's way back there.

WizardOfRealms

⋅ Feb 10, 2018 4:50 PM

I like this chart and your analogy... I have been a bear then a bull and now I am a bear again.

Tradingstrategyguides

⋅ Feb 10, 2018 7:21 PM

@WizardOfRealms, Great job - a trader needs to be like a chameleon - able to change color or directional bias as the market moves.

WizardOfRealms

⋅ Feb 11, 2018 1:35 AM

@Tradingstrategyguides, Thanks man! Was a huge crazy fake that started yesterday...

Docop1

⋅ Feb 10, 2018 4:11 PM

Hi About your buy stop.. was it your max buy price and then you set a sold at the previous resistance ?

Tradingstrategyguides

⋅ Feb 10, 2018 7:15 PM

@Docop1, Yes - but I was watching this breakout at my buy stop on a 5m chart. There was a breakout - then a hook pullback - but no go continuation. The go pattern failed and the hook took price back below the breakout level so I closed my trade.

Tradingstrategyguides

⋅ Feb 10, 2018 7:16 PM

@Docop1, Then I started looking for a morning star bearish candle pattern to find a sell entry point

Tradingstrategyguides

⋅ Feb 10, 2018 7:19 PM

@Docop1,

AbdennourTaleb

⋅ Feb 10, 2018 8:54 AM

okey bro thanks for the update
i took my profits at 1.20$
now tell me please what is the good coming point to buy again