lemonsandshade
Short

Ripple - possible ABC correction to 37 cent region

BITFINEX:XRPUSD   XRP / U.S. Dollar
Ripple looks like it is putting in a 3 wave correction. Could be a 3-3-5 correction to 37 cent zone. If we get major bouce off of.718 fib region that would be a great place to go long.
Nice idea on XRPUSD and there may be potential gains as you have identified by going short. XRPUSD is approaching our first resistance at 0.6153, which is similar to the level at point B where you are expecting a reversal. It is a horizontal swing high resistance with a 50% Fibonacci retracement. RSI is approaching resistance and ichmoku cloud is showing signs of bearish pressure in line with our bearish bias. Thus, we might see a potential drop. Excited to see how things develop.

Please take a look at our idea and share with us what you think.


+1 Reply
lemonsandshade easyMarkets
@easyMarkets, Looks good, let's see where support holds up.
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would be awesome, since that is around the price zone I fuct myself and lost half my holdings :(
+2 Reply
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