They said below $1 was mission impossible. Little did they know, I am the Tom Cruise of Ripple.
Ripple is very easy to trade as it lags behind btc -5.10% . You can find entries based on pivot points , and targets based on fibonacci levels. In this idea I talk about how the candle gave me signals to enter/exit positions.
- Green hammer after a downtrend signals trend reversal - Volume spike in next session confirms long entry
- Approach EMA50: Trade with care and take most profit. Safest play is to wait and see how the market reacts to trendlines . Will it reverse? Will it cross? Wait and see!
- Dogi does not always signal reversals. It just means the market does not know which direction to go. Wait for more candles to come out before making decisions. - Two consecutive sessions with lower close will give confidence to predicting trend reversal. Closing below the dogi shadow is a must.
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Here is another example using BTC/USD one hour chart.
Traders especially need discipline and patience during market correction/times with high volatility.
Two options: 1. Try to catch the top and bottom all the time and miss often. 2. Wait for multiple confirmations before opening a position. We might make a smaller profit, but we don't get trapped. (aka, those who bought ripple just now at $.95).