Coin:XRP(Ripple) Entry:0.23558 Target: .26492 Stop: 4.18%, at .22573 Thought: XRP looks like it is following a Elliot wave and is now in its downtrend. I belive it will hit point C below its previous support at the .382 fib. Also, if it gets to its previous support the RSI will show that it is oversold and should bouce back and clear the resistance from the wedge which would cause it to go parabolic till we find ourself at the previous resistance. Gains: 12.37%
One addition to the below , I couldn't execute any limit orders on Kraken the last time it crashed to .235 a few days ago, every single one came back as order failed at .238, .24, .24 , .245 for 30 minutes straight and Cloudflare messages came up as if the site was being DDOS'd, I had to put in market orders that were filled at .25 I notified Kraken and they had no solution or even a comment. I tried both a normal limit order and Post limit to book. Any ideas why? There were clear large blocks up to 200K on the ask , orders should have been posted and executed with the market movement with no problem.
Orion_da
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There are several others with the same idea exactly so it is fairly clear , same entry and target more or less, but since there are very near-term catalysts (swell confrence next Mon-Wed) and their retail gateway to go live Sunday it might wipe out the current technical picture, same thing with XBT and the upcoming forks...these are going parabolic way too quickly so likely to run up, test ATHs and then come crashing down. XRP could easily see some type of flash crash to the .235 levels but I doubt a fluid movement. Too much accumulation ahead of upcoming headlines. Maybe we'll have easier times trading it after the conference is over and no near-term catalysts loom? (october 18th it finishes)