Why:
Fundamentals:
Irrelevant because Ripple is so well known and hyped to newcomers. Like it or not, it's not going anywhere, so we might as well reap the rewards.
Trading Idea:
Be ready as we could be at a good entry point with movement starting anytime now, but especially so if the next few 1D candles find support at the long term trend line and close above (ideally both green). I'm waiting for 1-2 more candles to close above on the 1D and expecting movement around 19/02-20/02. Watch MACD on 4H and volume closely before entering trade to dial in that entry and confirm movement upwards. The order books should show plenty of activity when it's go time.
Entry:
97010 (or after confirmed bounce from trend line)
Sell Target:
121900
Profit:
15-25% profit
Estimated Turnaround:
1-2 days, sooner if indicators go bullish
Final Notes:
- Long Term Trend & the 618 Fibonacci are approaching for XRP/BTC
- The 618 has been a very strong area of support for 4 weeks running
- Yearly trends show money should begin returning to the market in the coming weeks
- We are at the end of the Chinese New Year celebrations, if you believe that sort of thing really affects the entire market. Many do, so confidence will rise
Fundamentals:
Irrelevant because Ripple is so well known and hyped to newcomers. Like it or not, it's not going anywhere, so we might as well reap the rewards.
Trading Idea:
Be ready as we could be at a good entry point with movement starting anytime now, but especially so if the next few 1D candles find support at the long term trend line and close above (ideally both green). I'm waiting for 1-2 more candles to close above on the 1D and expecting movement around 19/02-20/02. Watch MACD on 4H and volume closely before entering trade to dial in that entry and confirm movement upwards. The order books should show plenty of activity when it's go time.
Entry:
97010 (or after confirmed bounce from trend line)
Sell Target:
121900
Profit:
15-25% profit
Estimated Turnaround:
1-2 days, sooner if indicators go bullish
Final Notes:
- I always trade for satoshis
- Dependent on BTC's price action, Ripple could go on to rise 100% over the coming weeks. BTC is yet to confirm break of downtrend channel so i'd be taking the 15-25% and running. Remember to chase with a tailing stop-loss to maximise profits. I base this value on the percentage difference of the 1H swings to avoid finishing prematurely - because nobody wants that
- Calculate your own risk to determine the ideal position size, or allocate a set percentage of your spare trading funds (eg. 10%)
- I'm trialing the 9's indicators for this chart, it's not always accurate, but can be useful as an extra tool to have in the kit. The idea being you buy on a red 9 and sell on a green 9, ensuring candles have closed as the values can change in the moment
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.