raybana

trading with SMA and Pivots

KRAKEN:XRPUSD   Ripple / Dollar
XRP/USD
PP= 1.17939
R1= 1.29672
s1=1.08878
(Using the 1hour chart )The price surge 26th december around 10pm when
the SMA 20 crosses the SMA 100 around 10pm shortly after we got a
confirmation of the upward trend around 3am on the 27th of december
when the SMA 50 also crosses the SMA100 at $1.14 price level and went
as high as $1.27 for the day before reversal to $1.20611 daily close.
The above points are levels to watch for today as price movement above
1.29672 can take the pair to as high as 1.38193 which is the second
resistance for the day and below the pivot points at 1.17939 the price
can go as low as 1.08878 which we dont see happening since there is no
significant sign of trend reversal yet.
What would be signs of a reversal?
Balas
raybana dippyduck
@dippyduck, the SMA 20 is yet to cross the SMA 100 from the hourly chart coupled with the fact that it has not significantly surpass the s1 for the time being so watch out meanwhile the uptrend remains
Balas
raybana raybana
@raybana, for the time being it is good to buy on dip around 1.10 or 1.05
Balas
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