Retesting support turned resistance
Bearish EMAs, also retesting the 21
In a correction
This has been a tricky pair for me, I see the price coming up to the pink line and do a final retest downwards. the SL is in relation a previous day low, the TP its just the next area.
But I think due to the trendline broken that has room...
Weekly level respected
We have Emas crosing
Consolitading after a long bull run
Big rejection wick
Double Top forming
I think that if the price breaks the current trendline we should see the price falling till the next marked zone at least
3rd bounce from the trendline
outside the daily H/L
Stop just under a previous low, tp just a little below the weekly lvl, but at the same lvl that a previous day high
BUT, we dont have emas crosing, we dont have a precise candlestick formation on the lower TF, so its just a posibility. but given the dollar weakness I think this could play out.
If we go to...
marked the zone a few days ago, but missed the entry, a second retest might come, or wait for a short entry on the purple resistance.
BUT, we lack some price action, we dont have confirming EMAS
we are making lower highs and higher lows, so heads up for whats to come
As described in the related idea, i think we can get to the green Trendline. But now we seem to have another ascending counter trendline to support the idea.
We have just retested the current support after a break, i think it could be a good re entry
-Engulfing candle on the highs
-Broke support, and coming back
Whats the play here?
I see a retest of the previous support now turned resistance, that with the current confluences I see it going at least to the previous lower close, if we look left that seems to be an important zone.
I might take some out of the table and let it...
-XRP has been respecting the monthly trendline (green), so im staying bullish overall
-We have already rebound from the 61 fib lvl, now we are looking for the 2nd one
-safe bet would be the 27 extension, but the purple area is still a valid zone
Tight stops, if the sl gets triggered, would look for another potential entry around the green trendline or the 0 lvl
-triangle formation coming up
-Emas Crossing bullish
-Price has now come over the resistance but the daily needs to close over that to take action.
IF so, we could see the price going up to test the green trendline (daily) at least, or even further at the montly level
-Rejection of the Weekly trendline
-4th rejection on the 4h trendline
-Retesting the monthly level
-EMAS crossed bearish
-Fib extension matches take profit zone, and 4th bounce matches 0.382 lvl
Price now currently ranging, a more conservative entry would be a retest of the purple area
A longer shor would be the other weekly trendline with a purple box to the downwards
-2h emas about to cross
-Indesition wicks going up on the daily
-Fib 78.6 lvl bounced, and the 27 extension matches our monthly
-Even tho on the Higher TF we are uptrending, a break to the blue counter trendline to test the higher tf one could be in play
-Respected daily trendline (black)
-M forming on the trendline (4h and lower)
-Emas indecisive Emas on the 1H (with the price)
-Price failed to make new Higher Highs, so we have dificulties going up
-We could wait for a retest of the daily, but then theres no M as confluence, or we could break the hourly counter trendline (blue) for further confirmation of...
The EJ previous move came out right, but now what is happening?
I see a retest of the daily bullish trendline that was respected, BUT has crossed now the supp that has turned ress, and seems to be respecting it.
The emas are bearish, we have some zones lower that can be used as supp, the 4h candlesticks dont help in this situation.
So what I would do, wait for...
Its clear to say that in any market you can chose to be right or to make money.
Here my bias has changed for a more bearish one, given that we didn't even tested the blue ress.
Now that the trendline is broken, we have room to fall, i think a retest of the trendline might occur, to fall to the pink area, depending on what might happen in that area, I think is...