So our recent long position took 7hrs to hit our mark of 1.40... but at least it hit :)
Moving forward we are going to zoom back out from the 1hr chart and analyze the 4hr chart shown above.
As illustrated on the chart we can see a clear downwards trend pattern forming in measured waves...
The last two waves down bounced just above the 21 EMA shown in Red,...
This strategy tends to work better on a macro (4h-D) downtrend, which we are currently in
Looking for this the TL to break just like the previous two had before it.
Don't get eager and enter right after a break, could be a fake out and bounce on TL.
Wait for a clear candle or two to confirm break of TL, then enter on the retest. Can be a pretty tight SL just...
Yes, Faulty Signal Earlier - XRP
Better to have some and not need it...
Than need it and not have it.
Own some now and buying on the dips as once said before.
You'll sleep better for sure.
The Wizard of Realms
I think we are about to break past the 0.618 resistance and will test between the 0.618 and 0.786 untill we break past the symmectrical wedge resistance and blast out past the 0.786 for a new recent high ($1.96) +
BASICALLY, A WAVE THAT I SEE XRP PLAY MOST OF THE TIME ONCE APPROACHING A STRONG RESISTANCE. THE UPSIDE IS INEVITABLE BUT I BELIEVE WE COULD SEE A 99-97CENTS ONE MORE TIME BEFORE THE EXPLOSION TO THE UPSIDE. SIT BACK RELAX AND LET US WATCH.
Touch on the 50 EMA and sentiment relatively low regarding XRP due to the current SEC lawsuit.
Despite that i am still bullish on fundamentals and recent moves by Ripple in terms of hiring on key players.
next 2 weeks critical. 2.5 is target if we move higher.
as chart shows us, price is oscillating in a triangle pattern. so if price break channel up, after a pullback when we are seeing a bullish swing then we can take a long position and take profit in TP area.