📈 XRP SIDEWAYS TRADING 📈
⚡ Welcome ladies and gentlemen, thanks as always for giving me some of your time, we'll be quick. To start off we can pay mind to yesterday's chart linked below:
⚡ Yesterday's idea pointed out that XRP was on the cusp of a major move and we added a new wedge, falling wedge which I've annotated more today. That proved well but we've exited our main wedge and what we can see now is that sideways trading has taken over now that traders have lost their main reference and we grapple with that 200 EMA.
⚡ Best way to put stuff for now is that what happens next with our 200 will be the catalyst for whichever big move we get soon, that and our 0.46553 support should we retest that or fail and fall below which could trigger a bit of a selloff so I'd keep that in mind.
⚡ What we want simply is to hold that 200 and have it essentially enter our mountain should buying support bulls manage to hold things down. That aside things look pretty rough on the minute as shown below:
⚡ Hoping we can avoid having to retest 0.465 support and get some good pullback but can definitely see how that sell volume's going up as we lose our 200 EMA with the most recent tests to regain it having failed.
⚡ We can't predict the future but best we can do is pay mind to our reference points and horizontal levels for signals of support and resistance as well as the 200 EMA. Watch that 0.465 for support and just know if we slip below be ready for some volatile action.
⚡ About it for now, wishing well as always and thanks for tuning in ladies and gentlemen, feel free to leave a like or follow, share for more as always, appreciate it all.
~ Rock '
⚡ Yesterday's idea pointed out that XRP was on the cusp of a major move and we added a new wedge, falling wedge which I've annotated more today. That proved well but we've exited our main wedge and what we can see now is that sideways trading has taken over now that traders have lost their main reference and we grapple with that 200 EMA.
⚡ Best way to put stuff for now is that what happens next with our 200 will be the catalyst for whichever big move we get soon, that and our 0.46553 support should we retest that or fail and fall below which could trigger a bit of a selloff so I'd keep that in mind.
⚡ What we want simply is to hold that 200 and have it essentially enter our mountain should buying support bulls manage to hold things down. That aside things look pretty rough on the minute as shown below:
⚡ Hoping we can avoid having to retest 0.465 support and get some good pullback but can definitely see how that sell volume's going up as we lose our 200 EMA with the most recent tests to regain it having failed.
⚡ We can't predict the future but best we can do is pay mind to our reference points and horizontal levels for signals of support and resistance as well as the 200 EMA. Watch that 0.465 for support and just know if we slip below be ready for some volatile action.
⚡ About it for now, wishing well as always and thanks for tuning in ladies and gentlemen, feel free to leave a like or follow, share for more as always, appreciate it all.
~ Rock '
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