I believe Ripple is about to go very long. On the 4H chart (left), we can see that we’ve started an up trend and on the 1H chart (right), we can see that the bullish movement is going to continue. We’re currently facing an ascending triangle formation but price has just broken above the triangle's resistance line and I’m waiting to see if it can stay above.
As well as this, we’re also in the middle of a very major support & resistance zone – as you can see on the 4H chart on the left. When this zone is broken out of we can expect to reach my first take profit level, hopefully followed by TP2 and TP3 soon after.
I'll update when I have gathered more information - stay tuned.
Happy trading!
**Don't take trades based purely on my ideas shared with you; I'm just providing an idea for people who are after some knowledge of what could happen. You should conduct your own analysis and research to build up your own predictions**
@Cryptisch, good question. So, when price reaches TP1 I'll either sell my XRP and then buy back in if price doesn't seem to be slowing down. Or I'll let it get to TP1 then keep my eyes on the screen and if it passes easily I'll just keep my XRP up to TP2. Or if we get to TP1 and it seems to be slowing down there will be a pullback so I'll buy back in when I feel the pullback is going to turn back around so by doing this I've got a better price. Hope this has answered your question
@WizardOfRealms, this is possible but I would like max profit so I would rather keep the XRP. If I were to sell any I would sell all just before a correction to be able to buy back in at a better price to get even more XRP. It all depends on personal trading styles and goals.
WizardOfRealms
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@Reiss_Amara, We are on the same page. Except, as you know... on each candle going up, it "recedes a tad" before going up further... All I am suggesting is that my program estimates those "receeds" so you are in and out (as the price is going up!) I think my style will prove that I will have more xrp... Because I sold high and bought lower only to sell higher giving me more leverage. Thank you for your comments.
If you, for example, hold 100 Xrp.
How would you take profit on T1, T2 & T3?
Bought 100 @ $1. Reach TP1 $1.6
Sell 37.5 xrp for $60?