Open Order: none
Open Position: Long at 0.285 (buy-stop triggered)
This morning it was announced that the Saudi's National Commerical Bank will be using RippleNet. This is is a big deal and the 15% jump in price reflected that, triggering my buy-stop at 0.285.
This news, and the reflected jump in price, changes everything near term. All counts are now invalid.
I think as the American market wakes up this morning we will see continued rise in price, but first its within reason to expect a retrace to the 0.382 fib at 0.29891. This would put the next leg at 0.352-0.367.
There is significant resistance at 0.347-0.354 to break through, and if we do break through that I think it would signal a bullish reversal.
Beyond that there is a confluence of restistance sitting at 0.392-0.41 in the form of pivot points and a descending trend-line from May '18. A break of this would be a very. big. deal.
Open Position: Long at 0.285 (buy-stop triggered)
This morning it was announced that the Saudi's National Commerical Bank will be using RippleNet. This is is a big deal and the 15% jump in price reflected that, triggering my buy-stop at 0.285.
This news, and the reflected jump in price, changes everything near term. All counts are now invalid.
I think as the American market wakes up this morning we will see continued rise in price, but first its within reason to expect a retrace to the 0.382 fib at 0.29891. This would put the next leg at 0.352-0.367.
There is significant resistance at 0.347-0.354 to break through, and if we do break through that I think it would signal a bullish reversal.
Beyond that there is a confluence of restistance sitting at 0.392-0.41 in the form of pivot points and a descending trend-line from May '18. A break of this would be a very. big. deal.
Comment:
A nice little 0.382 retrace after extending the initial push. This sets us up for a 0.39 target now with a 1.272 fib ext.
