MagicPoopCannon

We Aren't Out of The Woods Yet — Ripple! (XRP)

BITSTAMP:XRPUSD   Ripple / Dollar
Hi friends! Welcome to this update analysis on Ripple! Before we dive in, I think it is important to emphasize that my analyses are all conditional. Meaning, I determine what price action must do, in order to support a move in one direction or the another. For instance, I will always posit that for X to occur, A, B, and C, are the conditions that must happen first. If you recall from my most recent posts on Ripple, we discussed some of the conditions that must occur, in order for a trend reversal to materialize.

We can think of this as a mathematical equation defined as X=A+B+C, where (X) represents a bullish trend reversal, (A) represents a breakout from the falling parallel channel , (B) represents a breakout above the 50 EMA in orange, and (C) represents a higher high, above the (Previous High.)

I have formulated the conditional nature of market decision making, so that you can understand just how conditional it really is. Looking at the chart, we can see that one of those conditions has occurred — a breakout above the descending parallel channel . However, in my opinion, this isn't enough to change the overall bearish picture. Given the fact that more resistance lies just above, at the 50 EMA , and then the previous high, this could end up being a failed breakout. Personally, I need to see more evidence, (B) and (C,) to believe that a trend reversal (X) has taken place. Otherwise, the head and shoulders pattern is still fully legitemate.

On the upside, we need to see price action break above the 50 EMA (in orange) and the "previous high," resistance level , as confirmation that a trend reversal has taken place. On the downside, a breakdown back into the falling parallel channel , or below the 200 EMA (in purple) would be a big win for the bears. Please follow, like, comment, and share on social media! This has been your fearless market guide, M.P.C. and I'm out!


***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***

-JD-
Great perspective. Will Follow this pattern and you.
Phản hồi
I appreciate your idea of using a tautology to model the current state of this market
I however have drawn the difference conclusion
Market action will decide
By the way a break above the 50 EMA and the "previous high," resistance level , as 'Ladder Buy'
Opportunities!

I will continue to follow your postd
Phản hồi
Volume is at a funny level
+1 Phản hồi
VI Tiếng Việt
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Trang chủ Sàng lọc cổ phiếu Bộ lọc Forex Screener Tiền điện tử Lịch kinh tế Cách thức hoạt động Tính năng Biểu đồ Quy tắc Áp dụng Người điều hành Giải pháp Website & Môi giới Widget Thư viện Biểu đồ Chứng khoán Yêu cầu tính năng Blog & Tin tức Câu hỏi thường gặp Hỗ trợ & Wiki Twitter
Hồ sơ Tùy chỉnh Hồ sơ Tài khoản và Thanh toán Ticket Hỗ trợ của tôi Liên hệ Hỗ trợ Các ý tưởng đã đăng Người theo dõi Đang theo dõi Tin nhắn riêng Trò chuyện Đăng xuất