If you had a long position in XRP and you closed because you got scared of the dump, you're trading with emotions. According to the technical analysis, although the dump was surprising, it meant nothing. XRP was, and still is trading inside the one-month triangle meaning hold your horses and be patient because a breakthrough is on its way. Follow me for some more...
If you follow the price step by step, then you hear it talking to you... ...nope, I'm not nuts §8-) Start from the left side and read, while you follow the price and give yourself time for your one thinking. First you can see price action, and how it unfolds. Then, there is the fork, catching the frequency of price swings very good. And in the end, we see that...
This concept - not setup - stems from Shane Blankenship, my former mentor of MG. I use this analogy in many situations, where the market just pressing price, up or down. What's important here is, the release of the pressure. See that one wide range bar? This is "interesting", something important is going on here. Now, since every breakout trader is long, they...