Please be advised that this is only an idea, so you are responsible for any losses yourself.
Dear followers,
First of all, many thanks for following and liking my ideas. I have had some very busy days, so I didn't post new ideas past days. I'll be more active from now again and I'll also provide you with some (penny)stocks and currency. But for the most part I will focus on cryptocurrency. Because this is my first idea of this year, I'll provide with a more detailed analysis than usual.
What we saw was a great correction past days. I really like this corrections, because it makes things clearer for the long term and it always brings us new chances. Where other people hates it.
We perfectly tested the 0.618 level. And what we see now are three hammers in a row. A close above the 20ma will confirm our strong uptrend. A close below the 20ma means a weakening of our uptrend, but our trendline is still a strong support. A close below this support (Blue line) will confirm a bearish signal. Besides that MACD turned bearish. We also saw a death cross (Crossover 50ma/200ma) on the hourly chart. We must not ignore this signal, but this isn't a strong sign in my opinion, because the volatility of crypto are very high. A close below below the blue confirms a correction to 1.28.
In summary: I'm still bullish on Ripple and I think we can look for higer levels again.
Bullish signals: - Three hammers in a row. - Bounced 0.618 - A close above 20ma (Purple line) - A close above trend line (Blue line)
Bearish signals: - Macd - Death cross - Close below 20ma - Close below blue trend line.
Long targets: - 2.27 - 2.74 - 3.20 - 3.49 - 4.08
Short targets: (If a day candle closes below blue support line) - 1.28
Good luck!
At the moment of writing, I've have a big position in XRP.
Please, follow and like for more trading ideas.
Questions? Feel free to ask and your feedback is welcome!
Trade ist aktiv
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We need a close above 20ma again. If this doesn't happen. The blue support line is strong support, we need a close above this line to look for higher levels again.
Trade ist aktiv
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If we close with thise candle above the blue line, we have a confirmation to go up again. 50ma hourly is our first resistance.
[img][/img]
Trade ist aktiv
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[img][/img]
We are testing our next resistance now. I expect a break and a strong increase within 12 hours.
Trade ist aktiv
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[img][/img]|
We broke the strong resistance line, I posted yesterday and it looks like we will close above our strong support line. A little patience is needed now.
Trade ist aktiv
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I'm sorry something went wrong. See the chart below.
[img][/img]
Kommentar
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Just to make sure, nothing is wrong with our trade. I failed to post the chart the first. That's what went wrong ;)
Trade ist aktiv
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[img][/img]
We broke our support intraday. We need a close above it to continue our uptrend.
Trade ist aktiv
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We closed below our strong support line. See the chart below for our next move next hours.
[img][/img]
Kommentar
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The close below our strong support line, triggered another correction as expected. My long position was stopped out at 1.74. A bounce from 1.28 is likely now. On the other hand, I see some signal that XRP is forming a bottom. Let's see which way we go next hours.
Trade geschlossen: Ziel wurde erreicht
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Short target 1.28 reached. I'll keep updating this chart.
Does this current close mean that we are going down here?
Trades999
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@sathya_singh1991, Yep, like I mentioned in the idea. I hope you prevented a big loss by this idea. :)
sathya_singh1991
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@jelmerrr, Yes, the secret here is to watch the movement and perfectly set the support. The market behaved perfectly and is still behaving at the support.
pcbjai
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What went wrong just now? I see you posted "We just need some patience" and then 1 min after something went wrong?
Trades999
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@pcbjai, I was trying to post the chart the first time. There is nothing wrong with our trade ;)
pcbjai
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@jelmerrr, Ah ok haha. Been a tough one to follow for the last few days, hoping for a bit of luck, just need to be patient I'm sure it will rise eventually :)
blak3n
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I agree with you, in the xrp/usd at 4h is creating a diamond bottoms, then reversal trend.
Trades999
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@blak3n, You are right, everything looks good for now. :)