Ripple new strategy! $2.70 target (likely) or $0.25 again?
Güncellendi
Risk: Low
Please be advised that this is only an idea, so you are responsible for any losses yourself.
Dear followers,
First of all, I hope that you''ll will give me a like on my ideas. This helps me to provide you with even better charts! (It's only one click) Besides that I've launched a Twitter account this month and I'm thinking about opening a Telegram channel, please let me know if you think this is a good idea. I really appreciate your help!
Buy idea:
It's time to analyse Ripple again. Ripple has made an huge correction after it's all time high. What we see is that Ripple is trading in a new channel downwards. Between resistance (1) and support (3) The new channel has signs of an enourmous bullish flag. At the moment, we are trading at the upside of the channel. Since the 18th we are trading in a smaller channel. Between lines 1 and 2. This can be seen as another bullish flag also within the huge bullish flag. What we see is that support (2) was first a resistance. This old resistance is our new support now and this can be seen as a strong sign. Besides that the MACD, just gave us a buy signal. So we have to say that the we are gaining power for the breakout. If we close with a candle below resistance 1, I'll buy XRP again.
Short idea:
If this doesn't happen we have to think the other way. A break of support (2) will weaken XRP and might trigger a test of support (4), the red dotted line. This is a strong support. Normally, I'll open a short position if we close with a candle below support 2, but I won't do that this time, because strong support 4 is near, so the risk/reward is not attractive. I'll open this position if we close below support 2 with a candle on the hourly chart.
Personally, I think that we have great chances to breakout and to look for higher levels again within now and 2 days. But we are prepared for the other scenario.
Buy:
If we close with a candle above resistance line (1)
Profit targets:
1.72
2.15
2.71
Short:
If we close with a candle below support (4)
Profit targets:
0.65
0.42
0.25
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome!
Please be advised that this is only an idea, so you are responsible for any losses yourself.
Dear followers,
First of all, I hope that you''ll will give me a like on my ideas. This helps me to provide you with even better charts! (It's only one click) Besides that I've launched a Twitter account this month and I'm thinking about opening a Telegram channel, please let me know if you think this is a good idea. I really appreciate your help!
Buy idea:
It's time to analyse Ripple again. Ripple has made an huge correction after it's all time high. What we see is that Ripple is trading in a new channel downwards. Between resistance (1) and support (3) The new channel has signs of an enourmous bullish flag. At the moment, we are trading at the upside of the channel. Since the 18th we are trading in a smaller channel. Between lines 1 and 2. This can be seen as another bullish flag also within the huge bullish flag. What we see is that support (2) was first a resistance. This old resistance is our new support now and this can be seen as a strong sign. Besides that the MACD, just gave us a buy signal. So we have to say that the we are gaining power for the breakout. If we close with a candle below resistance 1, I'll buy XRP again.
Short idea:
If this doesn't happen we have to think the other way. A break of support (2) will weaken XRP and might trigger a test of support (4), the red dotted line. This is a strong support. Normally, I'll open a short position if we close with a candle below support 2, but I won't do that this time, because strong support 4 is near, so the risk/reward is not attractive. I'll open this position if we close below support 2 with a candle on the hourly chart.
Personally, I think that we have great chances to breakout and to look for higher levels again within now and 2 days. But we are prepared for the other scenario.
Buy:
If we close with a candle above resistance line (1)
Profit targets:
1.72
2.15
2.71
Short:
If we close with a candle below support (4)
Profit targets:
0.65
0.42
0.25
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome!
İşlem aktif
We are trying to breakout 1 minute after posting this idea, haha. A close is needed above resistance.İşlem aktif
[img]Confirmation :). 200ma and $1.60 are our next resistance levels.
Not
[img}We saw a small pullback towards our 50ma and we bounced it perfectly. This might be a new strong support level. It good to see that we'll find two other support levels near. Line (A) old resistance and the raising support line (B).
Good luck :)
İşlem aktif
See the chart below: [img]
İşlem aktif
[img]This could be our new upwards trading channel. Our support lines are 50ma (Purple line), 20ma (Yellow) and (2). Resistance levels are 200ma and line (1).
İşlem aktif
[img]Ripple is testing it's new support now. Besides that, we see big buy walls around this support level. It's likely that this level will hold.
Personally, I have a Stop Loss at 1.269, because there is no real support near if we break this support level.
İşlem aktif
[img]I was stopped out at 1.269 and I just bought back XRP at 1.255, because we are trading with strong support levels near again. 50ma daily, 50ma hourly, trend channel).
Good luck. :)
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