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Ripple (XRP) - May 31

BITFINEX:XRPUSD   XRP / U.S. Dollar
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(XRPUSD 1W Chart)

(1D chart)
We need to see if we can move above the 1.03590 point along the uptrend line.

If it goes down, you should check to see if it finds support at the 0.71097-0.88410 range.
However, if it falls from the 0.88410 point, you need to trade cautiously.

It is important to break out of the downtrend line to turn into an uptrend.
As such, we should see if we can find support by moving up to the 1.26935-1.41072 section.

The 0.71097-0.88410 section is an important volume profile section.

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( XRPBTC 1W chart)

(1D chart)
We will have to wait and see if we can go sideways on the 2466 Satoshi-2914 Satoshi section.

If it goes down, we should see if there is support in the 2316 satoshi-2466 satoshi section.

If it falls from the 2017 Satoshi point, Stop Loss is needed to preserve profit and loss.
However, you need to trade carefully as you can touch the 1569 Satoshi-1718 Satoshi section and climb along the upward trend line .

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We recommend that you trade with your average unit price.
This is because, if the price is below your average unit price, whether it is in an uptrend or in a downtrend, there is a high possibility that you will not be able to get a big profit due to the psychological burden.

The center of all trading starts with the average unit price at which you start trading.
If you ignore this, you may be trading in the wrong direction.

Therefore, it is important to find a way to lower the average unit price and adjust the proportion of the investment, ultimately allowing the funds corresponding to the profits to regenerate themselves.

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** All indicators are lagging indicators.
Therefore, it is important to be aware that the indicator moves accordingly with the movement of price and volume .
However, for the sake of convenience, we are talking in reverse for the interpretation of the indicator.
** The wRSI_SR indicator is an indicator created by adding settings and options to the existing Stochastic RSI indicator.
Therefore, the interpretation is the same as the traditional Stochastic RSI indicator. (K, D line -> R, S line)
** The OBV indicator was re-created by applying a formula to the DepthHouse Trading indicator, an indicator disclosed by oh92. (Thanks for this.)
** See support, resistance, and abbreviation points.
** Support or resistance is based on the closing price of the 1D chart.
** All descriptions are for reference only and do not guarantee a profit or loss in investment.

Explanation of abbreviations displayed in the chart
R: A point or section of resistance that requires a response to preserve profits.
S-L: Stop Loss point or section
S: A point or section where you can buy to make a profit as a support point or section.

(Short-term Stop Loss can be said to be a point where profit and loss can be preserved or additional entry can be made through split trading. It is a short-term investment perspective.)

GAP refers to the difference in prices that occurred when the stock market, CME , and BAKKT exchanges were closed because they are not traded 24 hours a day.
G1 : Closing price when closed
G2: Opening price
(Example) Gap (G1-G2)

Comments

Hi tnx for sharing... one question What price should I enter to buy xrp?
+1 Reply
@Marijj, The point where you buy is really up to you, and you can proceed depending on how you trade.

Analyzingly, as I said in the main text, when you see support in the 0.71097-0.88410 section, you can buy it in installments.

(This is just an example of how to buy, and you are responsible for the profit and loss.)

(1h)

I use the 1h chart to see how I get the support at the point of support I think.

There are a lot of cluttered lines in my chart.
Also, when you activate the MRHAB-O indicator, several lines that were not visible appear.
These lines can be used as support and resistance points.
Therefore, if you are unable to select the support and resistance points you think of, you can use them as a reference.

In order to buy, you need to select in advance how much to invest, how much to leave the ratio of spare funds, how many splits to purchase, where to target, and where to stop loss. .

Such a buying strategy should be organized before proceeding with the purchase so that it does not proceed as a wrong transaction due to the fluctuation of the psychological state caused by the price change.

The number of divisions is displayed in the chart as a total of 3 steps.
It is good to lower the average unit price by doubling the ratio of the original purchase in installments to the total purchase amount.
However, if you buy in installments like that, you will need to use a lot of funds, so it is better to buy in installments at an appropriate ratio.

3 split purchase ratio: Split purchase into 25%, 50%, and 100% of the investment to be purchased

An important percentage in this split ratio is the 50% buy point.
Therefore, it is best to choose the 2nd installment number.

Check the position on the chart.

Section 3 is near the 0.71097 point.

However, if the purchase is not completed and the price rises above the 0.93405 point, which is point A, do not buy according to the price and realize profits only with the purchased amount.

If the selling price is higher than the unit price, you can sell anywhere to make a profit.
In addition, if it is likely to rise further, it is recommended to sell only the purchased principal (including transaction fees) and leave the number of coins corresponding to the profit in preparation for an increase in the future.

You can buy anywhere.
How you trade is important.

I hope the example of how to buy was helpful.
good luck.
+1 Reply
I like your post! thank for sharing!
Reply