RIPPLE - SHORT TERM TRADING PLAN, IMPORTANT LEVELS TO LOOK AT!

3 thg 8, 2018

With Bitcoin plummeting, Altcoins are heading towards grave. That is why i have stopped using chart patterns for a while for altcoins because they are all so much dependent on Bitcoin .
We all have been noticing that if BTC falls a few percent like 2-3%, altcoins take a way deeper dig to around 8-10% or so. So, it's better not to use traditional chart patterns since they won't come into fruition.

So, i am trading raw just via using swing highs, lows, supports and resistances. I have marked everything on my chart, you can check it carefully.

Please take care to use indicators such as RSI and MACD while trading using these parallels. I have not marked them on this since this chart can be used to trade in both directions i.e. long and short. So, marking just overbought/oversold doesn't make sense.

Ripple rebounded strongly from the critical support level few days back and is now moving between the marked parallels. If the bulls are able to push it, then it may reach the intermediate resistance level from where it may come back down. If it break above the resistance level then there is plenty of room to grow. Alternatively, if it falls back down then the critical support level should hold. If it doesn't, then things are gonna get pretty ugly for ripple.

I'll keep updating this, as and when required.

P.S: This is not an investment advice. This is my personal journal. Invest your capital at your own risk.

Keep an eye out. Trade safely. Always remember, money not lost is also a profit.

Good luck trading.!
Peace.