Look, I want to teach a lesson here. I'm seeing WAY too many people thinking these will just go up forever and NEVER correct hard. This is the way the market works, If you think you can't short ripple, think again.
We're targeting these two points here for as much as a 32.8% downtrend from the highest value here. I'm in a shorting mood and I CANT EVEN SHORT. So for those who can, I highly recommend this trade. I'm not trying to spread FUD, I'm not trying to scare people, I'm not trying to kill moods. BUT guys, IT HAS to happen. When I make these short predictions, I'm also making LONG setups. You have to realize that eventually if you are short on something you have to eventually be long, and if you are long on something you have to eventually be short. As SOON as my targets are reached, I AUTOMATICALLY think SHORT. That's what this is. A game of Highs and lows.
Here are the targets. No stop loss. Trade is active now.
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I don't know why this is Bitstamp, but the trade is active no matter what exchange you're on.
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When I said if you are "short on something you have to eventually be long" I mean this for things that are fundamentally sound. You can be short on 500 coins out here and never be long because they aren't fundamentally sound
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BOOM Target 1 Hit! Honestly I forgot about this, CAUSE I DONT SHORT lol. I was just notified that it hit the target. And guess what? He made money from a LONG position!! I'm here to help guys. Target 2 may take a while longer to hit.
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6 MORE CENTS TO GO FOR TARGET 2!! BOOOOOOOOM! Somebody call me a liar!
Guys, just pay close attention to the coins who are resisting more than the others. The ones that are resisting more are NOT at the end of their big wave 5s and all of the shorts that I have called for are falling like FLIES because they we're already on a downtrend and EXTREMELY overbought!
I'm here for the people. Just be patient on my other long positions. They we bounce, hold on tight.
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As you see as soon as I just updated that Ripple Snapped Back HARD. Why? because My 2nd target is near the limit of where it should correct! Though it should still eventually downtrend to that point and sit around that level, we now know that this coin will STAY bullish for it's 5th wave going up.
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The chart doesn't show it, but on the last 3 corrections, Ripple has seen a triangle. Use history in charts to predict the future. Right now it looks like the same deal as the previous correction. So i'm just going to assume something like this. This could be very off. Predictions aren't easily predicted, but I think I've counted 5 waves down for the A wave. Ripples likes ABCDE triangular formations. So I'm looking for a 5-3-5-3-5 correction. Meaning we have 5 correction waves down, and 3 abc motives up repeated in succession through an ABCDE correction.
Our E wave is likely to squeeze into a tight rope before it takes off. It's repeated itself over and over. When you see that tight, know that this an accumulation phase and be ready to buy before lift off. That's why I bought into NXT and Monacoin without hesitation. That is a great buy signal.
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I forgot to say, On the 3 hour chart we have support at 44 RSI, if closes through that, then know it is going lower.
Đóng lệnh: đạt mục tiêu
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It was just brought to my attention... BOOOOOOM! Target HIT! Congrats to all who got in on this trade! So far it's following it perfectly. It even hit the white line for the C wave. I based on history I THINK that's the lowest we'll see ripple for now. I will likely wait a few days or a week to see if Ripple Tight ropes and I can create our New long position. Will EBall's predication reign true?? Can Ripple hit $5?? FIND OUT NEXT TIME ON CRYPTO XZ.
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RSI support is at a low level. This price action in comparison to RSI strength is making me think Ripple will bounce nicely from here. I don't see it getting much lower than this. But can it? Most definitely.
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ALERT! Ripple is going crazy right now cause of some news?? SCALPERS UNITE!! But wait for it to cool down a bit. I just made like 2.5% in 20 seconds. Fastest trade I've ever made.
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Boom. 4.5% in 45 seconds. I really want to show you guys how I'm scalping Ripple right now, but we cant post with time frames so low. If you guys know how, please let me know!
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Ok I just lied. So this is the 1 min chart. I could've gotten another 4% but I wanted to show you guys this. This was my thought process during that scalping session. This is likely to be over now (next 30 min to 1 hour), but its possible to continue forward.
In scalping you cant ever be greedy, trust your indicators, take profit and dont be afraid to take a loss.
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Sorry guys! I think the wave count on that was wrong! On bigger time frame it looks like that was an extended 3rd!, expect it to go higher!
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10 RR Scalping opportunity for possible 15-20% gain (HIGH RISK TRADE). Waiting for for bullish divergence on 1 min MACD for entry.
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Sorry for all the updates guys, you just really have to move fast on scalping. I want to show what I'm thinking right now.
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There it is guys. 55 EMA met the .328 fib retrace. Expect a completion of the ABCDE in this triangle.
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If it falls from this support I'm taking the loss. I don't like the bearish divergence on 3 min RSI. I like MACD tho.
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Full position is in. Getting more confident. Make sure you guys know about the power of laddering and averaging out your cost on scalping. Don't ever go all in on one trade while scalping.
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Never forgot to check volume guys. Even though its falling a little low for my taste, low volume indicates consolidation. I think the Bulls are about to come back in and knock this thing up. I'm just over here live trading now. This is what you get when you follow me, 1000 updates in 1 day. Sorry. After this, we move to BCH.
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Sometimes, instead of a bearish divergence, you spot a descending wedge. These pop up on RSI as well. Good signals.
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If we fail to break the resistance again, I will like take profit and see what happens. This is taking way longer than it should and I think its losing forward momentum.
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Out. It broke support. Will see what happens.
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Expecting a bounce at 55 EMA and 40 RSI. Buy wall at $2.
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Didn't have enough time to update this during that time. But on the one minute scale I targeted the 55 EMA. Don't want to be cocky, but that wick was me right there hahaha. Waiting for bullish divergence on MACD AND RSI before I re-enter. All you need is volume and volatility to scalp.
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Quickly re-entered. Look at bullish bounce on RSI on 5 min and divergence on MACD. May fall again though.
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There's the fall. Re-entry at Bullish RSI and Diverging MACD.
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Bullish Divergence in. Will probably be my last update. I don't want to harass the notification box! lol
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Just lied again. Wanted to show not to forget bigger picture. In a descending wedge. Maybe another touch at that blue or white line for a nice 4-8% bounce upwards.
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Alright guys, last update of the day I swear. But this is the bigger picture. I THINK we can get a bigger 5th wave. Everything looks normal if thats the case. I will target that bottom line for entry and see what happens a while out.
I would like to say that my win rate on this session was probably 60-70%. But I managed my risk and netted at least an 8% return. Importance of risk management and adapting to the situation!
On another note. This is making me angry because I need to go grocery shopping. I'm literally eating chips and salsa for lunch right now.
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Lied again. But I want to show this as a possible teaching point. You see how these two drops are very similar? Right now we are in an ascending wedge that is likely to fall. I'm expecting a similar correction like the one we've already seen to the left.
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Likely to see a triangle similar to this play out.
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BOOOM!! There it is guys! First short term target for Ripple was hit! Congrats if you got in on that. A few more updates will are to come after I update Bitcoin!
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So here are some scenarios. I'm not quite sure if Ripple can push higher, but if Bitcoin does, then this surely can to. Short-term Bull target gives that chance. Base case says this is over. Waiting game as we go on.
100% Agreed. This is extremely unhealthy. Ripple's CEO the world's richest? It's true, only if he DUMPS on the market.
dregos
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@titanlyy, You obviously don't know about Ripple. Yet you have the balls to comment.
Elijah_Trading
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@dregos, To be fair I know nothing about Ripple either...
dregos
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@Eball8, I got that from your post, but you are basing your assumptions on TA. But in this case the TA is very hard, because XRP natural value for a long time now was around 2$ and until Ripple the company put their XRP in an Escrow, people where very cautious. That is why it shot up so fast. Then there are two news we all wait for. Will XRP be added to Coinbase and the quarterly report(Q4) of the Ripple company where they should announce new partnerships.
Besides. BTC(40%-60%) is in hands of few early adopters yet people somehow think it is not controlled.
Elijah_Trading
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@dregos, The only argument i have to say is that there is no "natural value" in crypto currencies. You could have said Ripples' "natural value" 3 months ago was 25 cents. Things always change in this environment and you have to be ready for it.
dregos
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@Eball8, Actually the "natural value" is now a commonly used expression of a mathematical estimation. Of course it is not solid. The thing I wanted to point out is what is behind XRP. But I as well am very aware of the Crypto world and it's "mood swings". Now the current situation. The dump that is happening is in my view because of several factors that are not entirely related to tehnical analysis. One fact is the avalanch of dumping of most crypto that started when CMC delisted Korean markets. That is something I nor anyone could predict. It happend without a warning from CMC.
I mentioned this in another post, for me it is ilogical that people are dumping so much, since if you watch the hype of incoming news about ripple, it has still not stopped.
xSnorlax
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@dregos, sure sure, you know everything about Ripple. Good luck =]
pietroSV
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@dregos, looks like Coinbase is not adding any new currency in coming time, its CEO said that on Jan 5
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@pietroSV, Yeah. It seems so. However the message was not 100% clear. It leaves a bit of shade if you read it carefully. The news about Coinbase adding XRP for me was wierd anyway, because I could not understand why it matters so much if Coinbase adds XRP. There are multiple ways one can put USD in crypto. But then again there are many who don't know how.
UnknownUnicorn490324
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@Eball8 man can we get an eball update on this pair? having trouble counting the consolidation /drop its doing now