Hi, friends.
Our last forecast was true again.
At the moment, almost all coins are sluggish.
The dominance of bitcoin has already reached 53% and it is not very good for all the crypto-currency market.
But, despite this trading opportunities are still exist.
Regarding the situation on XRP, we have 2 balances:
- First balance (#1 on the chart) is more important - it's wide corridor with the range 0.2475-0.3740.
- Second balance (#2 on the chart) - intraday balance with the range 0.3150-0.3515.
If the indicated wide balance will be break out than a new mid-term up trend will start and the price the price will quickly reach 0.4300. But in the opposite direction this also works. If wide balance goes down - in this case the XRP price will fall more significantly.
Speaking about intraday balance - if this balance goes up, It will means bull pressure but you don't need to open immediately long positions after break out, because of close resistance level 0.3740. Intraday - we have buy priority.
There only 2 places where we can put a buy limit orders: 0.3150 (aggressive, only intraday) and 0.2475 (conservative).
Also, if you have margin account you can open sell positions with the leverange. Good places for sell-limits: 0.3515 (aggressive, only intraday) and 0.3140 (after break down of intraday balance).
Remember: according to the trade rules in balance, it is necessary to trade only from the balance borders inside. If there is a breakdown or breakout of the balance, we trade in the direction of breakdown or breakout.
Glossary of terms
Our last forecast was true again.
At the moment, almost all coins are sluggish.
The dominance of bitcoin has already reached 53% and it is not very good for all the crypto-currency market.
But, despite this trading opportunities are still exist.
Regarding the situation on XRP, we have 2 balances:
- First balance (#1 on the chart) is more important - it's wide corridor with the range 0.2475-0.3740.
- Second balance (#2 on the chart) - intraday balance with the range 0.3150-0.3515.
If the indicated wide balance will be break out than a new mid-term up trend will start and the price the price will quickly reach 0.4300. But in the opposite direction this also works. If wide balance goes down - in this case the XRP price will fall more significantly.
Speaking about intraday balance - if this balance goes up, It will means bull pressure but you don't need to open immediately long positions after break out, because of close resistance level 0.3740. Intraday - we have buy priority.
There only 2 places where we can put a buy limit orders: 0.3150 (aggressive, only intraday) and 0.2475 (conservative).
Also, if you have margin account you can open sell positions with the leverange. Good places for sell-limits: 0.3515 (aggressive, only intraday) and 0.3140 (after break down of intraday balance).
Remember: according to the trade rules in balance, it is necessary to trade only from the balance borders inside. If there is a breakdown or breakout of the balance, we trade in the direction of breakdown or breakout.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 1-3 fixing movement.