Load the Bag, XRP

24 Nis 2018

Weekly
Bounce off 0.00007500 support
Higher timeframe showing beginning of uptrend.
Expecting a wick fill towards 0.00010100 as momentum remains bullish.


Daily
Looking over at our trend timeframe we can see price’s impulse leg from 0.000020000 up to 0.00018000. Although we did not retrace 100% to our breakout zone price has retraced about 65% and found support after a break out of bullish pennant has test for support @ 0.00007000. Resistance hit @ 0.00011000, and support has been found @ 0.00009275. A daily close above 0.00010000 triggers our trade. Stochastic RSI shoeing momentum is looking bearish.


4Hour
Shifting over to our pattern timeframe we can see a bullish triangle has formed.
Double Bottom 0.00009500, break and close above triangles activates trade.
Stochastic RSI showing momentum is heading towards the upside.


Hourly
Finally shifting over to our trigger timeframe we get a better look of our breakout triangle. Box A shows a double bottom inside breakout pattern pointing towards our momentum indicator showing higher lows being formed. Box B shows although price remained bearish inside our bullish breakout pattern, momentum double bottomed and (followed by breakout) found support as well. Finally looking over at Box C we can see momentum has returned to our double bottom *momentum breakout* and is now heading towards the upside. Waiting for a break and close above 0.0009820 on the hourly before taking a long entry.

Conclusion
Buy: After breakout
Sell: Why???