Ripple ain't lookin so hot right now. We have had it rebound off of the support channel I drew, and it didn't even make it back up to 78-80 cents but has moved down sooner which is not a good sign.
1. We have DAILY MACD moving into negative territory.
2. Created a fail of a rebound.
3. On the 4 hour, we have a cross IN NEGATIVE territory. Oh my.
4. Also on the 4 hour, you will notice those MA's converge right where the fail was.
All in all, this does not bode very well for ripple for any sustained move to the upside.
If you remember, on our first trade I said take half of our profits at 90 cents and should have been stopped out with the rest.
On the second trade off that support area I said "Be fickel with it and get out at break even or with profit.
You shouldn't have any loses right now. If you are still in this, you better be comfortable taking a ride down to 50 cents, maybe 28 cents and possibly not coming back for a while.
IF, a BIG IF, there is any hope of Ripple moving higher it HAS to hold this area. HAS TO.
Best of luck,
-Sherem
1. We have DAILY MACD moving into negative territory.
2. Created a fail of a rebound.
3. On the 4 hour, we have a cross IN NEGATIVE territory. Oh my.
4. Also on the 4 hour, you will notice those MA's converge right where the fail was.
All in all, this does not bode very well for ripple for any sustained move to the upside.
If you remember, on our first trade I said take half of our profits at 90 cents and should have been stopped out with the rest.
On the second trade off that support area I said "Be fickel with it and get out at break even or with profit.
You shouldn't have any loses right now. If you are still in this, you better be comfortable taking a ride down to 50 cents, maybe 28 cents and possibly not coming back for a while.
IF, a BIG IF, there is any hope of Ripple moving higher it HAS to hold this area. HAS TO.
Best of luck,
-Sherem