CapMoore

XRP/USD Possible Ichimoku Buy on H4 As Trend Shifts Feb 10 2018

BITSTAMP:XRPUSD   Ripple / Dollar
Ripple is about to shift trend on the H4 timeframe if
we see a close above the Cloud, as it is currently trading.
A close above will also create a buying signal. On the
daily chart , price is closing in on the S/R level at 1.13
which today aligns with the Kijun Sen (white equilibrium line).
If price continues higher and cuts through this level, the
Weekly R1 will be the next strong resistance at 1.23.
We see a nice reversal formation on the H4 chart (right).
If price close above the Cloud it is natural to see a retest
of the Cloud, were more conservative Ichimoku traders
will long to catch the trend shift, and the trail the stop
either using Kijun Sen (common) or the lower end of the
Cloud. Supports intraday at 0.98 & 0,935.
Also, I missed to expand the MACD on the left daily chart ,
but there is a Bullish Crossing signal as of yesterday which
should add fuel to the upside going forward.
BRILLIANT ANALYSIS. ONE QUESTION: HOW DO YOU IDENTIFY YOUR RESISTANCE LEVELS ESPECIALLY YOUR R1?
Antworten
Hello, excellent post. These conclusions about XRP are conditioned to breach of BTC over $ 9.2k right? If BTC bounces on that resistance will there be a rapid retraction in XRP?
Antworten
@gusccbb, I treat them one by one. Especially Ripple can have a life on its own as seen before. But true, 9200-600 is important level for Btc. Note
a bounce there would be natural at a first test.
Antworten
gusccbb CapMoore
@CapMoore, Tks
Antworten
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