XRP/USD is showing signs of downward pressure in the 12min, 23min, 45min, & 90min as well as the 3h now. Currently in a race with the white energy in the 3h vs the RED RSI in the 6h TF. Question to ask is: "Can the white energy in the 3h TF close above the 50 level before the RED RSI in the 6h can CROSS below the 50 level.
I will provide updates for this race on this publication.
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Keep in mind that just because we have downward pressure does NOT mean price action must go down significantly. Do NOT assume that. Price action can trade sideways in a trading range.
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Update on Race between white energy in 3h and RED RSI in 6h. XLM/USD 3h lost, 6h also lost. Will XRP/USD do the same?
I am a student of @WyckoffMode. I am using his indicators and his requirements and RULEs for using his indicators.
When the Red RSI crosses below the 50 level a "race" is triggered between the white energy in that timeframe and the red RSI in the higher doubled TF.
This "race" is used to get an idea when downward pressure might exhaust and reverse to upward pressure. (Downward pressure began when the Red RSI crossed below 50).