pugilist_vc
Short

XRP Short - 2/12/2018

BITSTAMP:XRPUSD   Ripple / Dollar
287 0 2
2/12/18 (7:17pm EST):
Short Entry (1.04) Target (0.50) Stop loss (1.25) <Possible bear trap>

Logic :
XRP like all cryptos are in a downtrend, consistently fallen and bounce off key support and fib levels after brief capitulation of about a week or so. Afterward, the price action rolls over and the volume increases to the downside until it reaches the next support or fib level.

Typically XRP falls ~70% from its previous bounce peak and then jumps ~100% before losing ~70% again and retesting lower support levels (which typically coincide with previous support or fib levels). Right now, that support and fall level is around $0.37. I put the cover at 0.50 because I expect frantic bids entering the market because at that level, there is very little support remaining which means a retest of the 0.20-0.25 levels of late 2017 are likely. I want to be out of the position before that dynamic unfolds.

We'll reassess and potentially look to play the bounce on the upside given XRP usually recaptures ~100% of it's previous high; especially if frantic bids enter the market to buoy the price. Obviously, this historicism of trading works until it doesn't, so I will keep a close eye on when this trend reverses and adjust my expectations and strategy accordingly.
Kommentar: (2/21/2018): my short has been working well in XRP. I'm up ~13% so far. I narrowed my take profit to $0.78 from the original $0.50 since the market dynamics/bias seem to have changed for the moment.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Startseite Aktien-Screener Devisen Signal-Finder Kryptowährung Signal-Finder Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden