How to trade Ripple for those of you who want to be cRippled:
Follow the trend lines.
We can see the clear downtrend since ripple was first added to Bitfinex on this chart on a longer term.
We can also see we have just recently made a visible bounce off a support line.
Using trend lines or in this case a fibonacci channel we are able to have general support & resistance areas to have a general idea on trading. Ripple also moves a lot of times based off of Fundamentals so we need to stay alert on the Fundamentals as much as possible.
We can look at volume profiling to have a general idea where we may and have met support / resistance in the past due to volume decline or increase.
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As always leave all feedback below, would love to hear your thoughts!
Follow the trend lines.
We can see the clear downtrend since ripple was first added to Bitfinex on this chart on a longer term.
We can also see we have just recently made a visible bounce off a support line.
Using trend lines or in this case a fibonacci channel we are able to have general support & resistance areas to have a general idea on trading. Ripple also moves a lot of times based off of Fundamentals so we need to stay alert on the Fundamentals as much as possible.
We can look at volume profiling to have a general idea where we may and have met support / resistance in the past due to volume decline or increase.
--
As always leave all feedback below, would love to hear your thoughts!
Komen:
Uptrend Fib Channel Clearly Broken which would have activated a short.