hi traders,
it is not a favorite coin but hey traders don't care. XRP is about to finish its 4th wave and getting ready for the 5th. The 4th wave is a symmetrical triangle and also making a very nice bull pennant if you use the classical charting. Both fibs and the flag pole give the same target of 0.86 USD which is close to 30% return.
Additionally, pay attention to the golden cross on the H4 frame and the RSI support lines.
Wait for a breakout to trade or set a tight stop loss.
This is not a financial advice.
it is not a favorite coin but hey traders don't care. XRP is about to finish its 4th wave and getting ready for the 5th. The 4th wave is a symmetrical triangle and also making a very nice bull pennant if you use the classical charting. Both fibs and the flag pole give the same target of 0.86 USD which is close to 30% return.
Additionally, pay attention to the golden cross on the H4 frame and the RSI support lines.
Wait for a breakout to trade or set a tight stop loss.
This is not a financial advice.
Trade active:
so far so good people
here is H1, closed above the line
H4 still has another 55min to close to confirm.
get ready!
here is H1, closed above the line
H4 still has another 55min to close to confirm.
get ready!
Comment:
no confirmation yet
Trade active:
You may enter trade now but I am going to wait for the retest of the triangle to enter. Of course unless it makes a jump.
Comment:
The line is defended well people.
I am in but will be watching the BTC activity closely.
good luck
I am in but will be watching the BTC activity closely.
good luck
Trade closed: target reached:
I am closing my position people. Took a nice 9% profit.
BTC is showing alot of indecisiveness and no need to take the risk.
You will never bankrupt by taking profit and do not chase couple of more percentage points.
See you in the next trade
BTC is showing alot of indecisiveness and no need to take the risk.
You will never bankrupt by taking profit and do not chase couple of more percentage points.
See you in the next trade
Trade closed: target reached:
well, how about that... the overnight price action reached to my target spot on but I have closed my position much earlier... I took 9% profit instead of 25%...To be fair, when I closed my position there was no negative sign for XRP at all; RSI was pointing upwards and well above the support, MACD was going up.BB had room to go too. HOWEVER, there was high risk on what BTC was going to do, hence I closed my position. In the end, I protected my capital and made profit. This is what matters as there will always be another trade.