Hi friends! This is a repeat publishing from yesterday. The original has been deleted, but the analysis still applies.
In technical analysis , repetitive patterns are arguably the most valuable indicators of all. Lets take a look at a repetitive pattern, that I stumbled upon while reviewing the Ripple chart. As you can see, XRP has been trading in a rising parallel channel (green dashes.) There have been three basic price waves inside of this channel, all of which have effected volume in the exact same way. We can see that the volume has risen (purple domes,) as the price waves begin, and then has fallen in a remarkably similar fashion, at the end of each price wave. This action in the volume shows that buyer enthusiasm is high during an uptrend, while seller enthusiasm is quickly exhausted. The trough of each volume dome, corresponds with a low point of price action inside of the rising parallel channel . After each trough, the price of XRP has exploded to the top of the channel. If this pattern repeats itself, we are likely to revisit the top of the channel at some point — which is much, much, higher.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-
In technical analysis , repetitive patterns are arguably the most valuable indicators of all. Lets take a look at a repetitive pattern, that I stumbled upon while reviewing the Ripple chart. As you can see, XRP has been trading in a rising parallel channel (green dashes.) There have been three basic price waves inside of this channel, all of which have effected volume in the exact same way. We can see that the volume has risen (purple domes,) as the price waves begin, and then has fallen in a remarkably similar fashion, at the end of each price wave. This action in the volume shows that buyer enthusiasm is high during an uptrend, while seller enthusiasm is quickly exhausted. The trough of each volume dome, corresponds with a low point of price action inside of the rising parallel channel . After each trough, the price of XRP has exploded to the top of the channel. If this pattern repeats itself, we are likely to revisit the top of the channel at some point — which is much, much, higher.
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
-JD-