Very good trade setup. It is wise to wait a little bit for the price to fall, then start selling. Both target 1 and 2 should be reached and I think it is best to close at least half of your position at target 1.
We are still very early in the movement, I'll keep you informed on the targets.
After my previous analysis on RIPPLE was a bittersweet victory - althought the initial stop loss was triggered and RIPPLE reached new high - all of three targets I marked on the chart were hit perfectly - 2.1, 1.7 and final 0.9, giving very good and profitable outline for XRP shorts.
This time I think we have very interesting and uncommon structure - the extended...
I think it has already started, however price may toy around a little bit and move upwards more before falling.
I see three possible targets:
Moderate: around 8100
Extreme: around 6100
Insane (not on chart): Around 4900 - Wave 5 of Wave C would be 1.61 of Wave 3, and retracement of 0.61 would be reached from the upward push to 19500$.
XRPUSD has reached it's maximum bullish potential. It is highly unlikely that it will form a new top, at least in next month.
The most safe way to invest in this asset is just to go short, with SL slightly above the top and TP at the lowest line.
Riding the 5 wave structure is possible, but very risky. Those corrections tend to be very violent and it is hard to...