Let's look at the daily chart of Ripple and try to spot possible price movements. We can see that price reach an important zone formed by the downtrend line and 0.200000 resistance level. It plays as a strong reversal zone. The downtrend line stopped and reversed the upward movement before and it can do the same one more time. But also, if the market can passes through this downtrend line and 0.200000 level, we'll have a good confirmation for the upward movement. It will be a buy signal with stop below 0.130000 support level and profit target at 0.300000 resistance level. Don't forget that a such breakout should be confirmed by a strong bullish candle and MACD. It will be great if ADX line rises above 20 and confirms strong price movement. Other variant of price movement can be based on a price reversal from this zone. In such way we'll see a downward movement to 0.130000 support level. So, we have to watch for price action near this reversal zone and be ready to open long trades based on the breakout signal.
Why do you think, rising stopped at 0.204?, I can't find logical explanation.
krkrism
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Thank you so much. I've been learning so much from your posts. One basic question - would you recommend trading in USDT or BCT for XRP in this case? Thanks!
abenazzouz1
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Hi im new here i did not understand what is the strong bullish candle and MACD ?
DLavrov
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@abenazzouz1, that's why before trading in real markets it's better to learn the theory. There are several websites which provide you free information about the trading in the financial markets.
abenazzouz1
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@DLavrov, how i can start and found thoses informations? google has thons of details...there is any program or montor