Very quick post. XRPUSD is outside the 4h bollinger band and it has a lot of hidden bullish divergence (higher low on the price action, lower low on the indicator) which behooved me to close my short and look for a move at least to the top of the bollinger band.
Price action has broken the resistance I was using to add to my shorts. This is a relatively high risk entry because I am using a low timeframe and pulling the trigger with little confirmation. There is a slight chance that XRPUSD goes out of my channel but that is basically hopium for me at this point.
My linked post shows my head and shoulders short entry and I made it very clear I was concerned that we would get a lot of under performance. With that background I am long right now. Due to the rapid nature of this trade I hope to have a profitable stop loss or manual close shortly. I hope to continue to beat money out of XRPUSD and buy ETH, which is a marginable collateral currency in Kraken.
Price action has broken the resistance I was using to add to my shorts. This is a relatively high risk entry because I am using a low timeframe and pulling the trigger with little confirmation. There is a slight chance that XRPUSD goes out of my channel but that is basically hopium for me at this point.
My linked post shows my head and shoulders short entry and I made it very clear I was concerned that we would get a lot of under performance. With that background I am long right now. Due to the rapid nature of this trade I hope to have a profitable stop loss or manual close shortly. I hope to continue to beat money out of XRPUSD and buy ETH, which is a marginable collateral currency in Kraken.
Trade closed manually:
Scalp closed at the ray. Will look to long at the base of the channel. If we break out I play the break out as a flagpole.
Scalp closed at the ray. Will look to long at the base of the channel. If we break out I play the break out as a flagpole.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
