For those of you who know how I trade I tend to put together a few technical factors. I do see some trend following which is bullish for ripple and here are my reasons why.
What kind of potential does ripple have here?
I have not identified this chart pattern as a bona fide bull flag but some of the principles still remain. The drops in price will be bought heavily as the pattern continues.
Moving Averages - 9 and 20 simple
Candlestick formations, there are more recent bullish candles printed indicating that they are in firm control and the pattern remains in tact that whatever retracements to the downside should be bought, the buy the dip winners continue to be rewarded.
The slower moving average is slowly sloping back to a level just 1.0803
There is a bearish candle that took hold in the past four hours of trading and if that proves to be a minute reversal we should have a wave of selling that turns into a buying opportunity. In our trade we are looking to buy ripple in the shaded zone at 1.01803. The note on the side points out how reliable the pattern was in where the aggressive buyers accumulated their amount.
If your style is to hold longer it may be a good idea to piece in and piece out. Heres an idea if you sell 1/2 of the position at 1.40 and then the other 1/2 at 1.60
What kind of potential does ripple have here?
I have not identified this chart pattern as a bona fide bull flag but some of the principles still remain. The drops in price will be bought heavily as the pattern continues.
Moving Averages - 9 and 20 simple
Candlestick formations, there are more recent bullish candles printed indicating that they are in firm control and the pattern remains in tact that whatever retracements to the downside should be bought, the buy the dip winners continue to be rewarded.
The slower moving average is slowly sloping back to a level just 1.0803
There is a bearish candle that took hold in the past four hours of trading and if that proves to be a minute reversal we should have a wave of selling that turns into a buying opportunity. In our trade we are looking to buy ripple in the shaded zone at 1.01803. The note on the side points out how reliable the pattern was in where the aggressive buyers accumulated their amount.
If your style is to hold longer it may be a good idea to piece in and piece out. Heres an idea if you sell 1/2 of the position at 1.40 and then the other 1/2 at 1.60