XRP Bull Breaker - Alternate View By Popular Request (5:1 Short)
My most popular idea by far, with over 70 comments in half as many hours, is this one, which I've revised in order to show the Trend Exhaustion details w/in the AVWAP Array on the 1D chart. Again, if you are a long term Bull, you won’t like it, and yet since I operate by the Steel Man principle, I welcome your toughest questions and chart-based counter-arguments.
As I always, I strive to render my ideas so that I need no words to explain them, although I can (and do) write detailed paragraphs (elsewhere).
Anyways, in the medium term, I expect price to fall to the $0.3785 shown here, which also marks the Point-of-Control from the last major swing low. Price Action already tested the positive 3rd Standard Deviation of the AVWAP from the same reference point, as shown, and will, by degrees, retest the negative 2nd Standard deviation below (+/- $0.22 USD as of this writing).
The stop loss shown here is discretionary and conservative, and should be revised for current conditions if you are considering a short trade. Closer study on lower timeframes may reveal a better entry or stop loss as the chart unfolds over time.
Hopefully this version clarifies a few details for the confused.
In practice, the Trend Exhaustion Wedge reveals stop loss and profit targets for day traders on the lowest time frames (minutes, even seconds), which are, by nature, moving targets on any given day. The AWVAP Array, on the other hand, is dynamic, and prints according to the timeframe, unlike the trend lines.
I intend to start live-streaming soon, so feel free to ask questions if you have any. Critical thinkers only ... XRP-Trolls need not apply.
Until then, be liquid!
As I always, I strive to render my ideas so that I need no words to explain them, although I can (and do) write detailed paragraphs (elsewhere).
Anyways, in the medium term, I expect price to fall to the $0.3785 shown here, which also marks the Point-of-Control from the last major swing low. Price Action already tested the positive 3rd Standard Deviation of the AVWAP from the same reference point, as shown, and will, by degrees, retest the negative 2nd Standard deviation below (+/- $0.22 USD as of this writing).
The stop loss shown here is discretionary and conservative, and should be revised for current conditions if you are considering a short trade. Closer study on lower timeframes may reveal a better entry or stop loss as the chart unfolds over time.
Hopefully this version clarifies a few details for the confused.
In practice, the Trend Exhaustion Wedge reveals stop loss and profit targets for day traders on the lowest time frames (minutes, even seconds), which are, by nature, moving targets on any given day. The AWVAP Array, on the other hand, is dynamic, and prints according to the timeframe, unlike the trend lines.
I intend to start live-streaming soon, so feel free to ask questions if you have any. Critical thinkers only ... XRP-Trolls need not apply.
Until then, be liquid!
Adrian Dyer,
Chief Strategist and Impresario at The Leading Indicator
Chief Strategist and Impresario at The Leading Indicator
