I'll be Shorting XRP from .99 cents to a possible .73 or lower. Same pattern has formed as previously and hitting resistance lines and downward trend line right now.
Please share any ideas you have in the comments.
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That didn't go as planned. Always ladder Sells and Buys so that you can close positions when the price retraces if you're margin trading
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I believe a large reversal is coming shortly and may be in the form of a flash crash. However I also believe that a target of $2 is not unrealistic given the way Bullish wedges are traded. XRP broke out of its wedge at .73 cents. This would normally be a good place to buy back in after the retracement. XRP went parabolic however and it is going to be a tricky one to short. Unless you're confident. Google, how to trade Bullish wedge to help you calculate how high XRP should go.
I will be laddering my sells up to $1.70 but I think it will have a fall before then.
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This pattern still strongly resembles the previous one I have pointed out. I didn't factor in the strength of the final wave up but if sells were laddered this could potentially still be quite profitable. I am still thinking possible retracement to .73 cents. But overall trend for the life of XRP has it's value at around .30 cents.
I'd love to see any charts you've drawn up in the comments.
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There is a chance that BTC and XRP have finished there downward trend. I will post a possible upward trend chart prediction shortly.
it was 1.22 this morning ... when should we buy again ??
Gordonrmck
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@AbdennourTaleb, I'm still considering it bearish until BTC has done a complete reversal. BTC is currently at the top of it's wave.
I will buy XRP at the lines i have drawn on the chart, but I will sell them at the top of their individual waves. I'll be watching it as it goes.
I think XRP is creating a Bull Trap at the moment.
AbdennourTaleb
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@AbdennourTaleb, amazing analysics bro ... so lets see if it is a bull trap .... im waiting for another analysics from you thanks! !!!!!!!
abelgalaz
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so what do u think about it now. I think we are now bullish
neotheone_
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$2 very soon
abelgalaz
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@StevieDean, sure budy
Gordonrmck
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@abelgalaz, Yeah, it definitely just shot up after I posted this.