Since my last call on Ripple i've been watching it loosely, waiting. As you'll notice looking at my last call on XRP (www.tradingview.com/.../VwYERndV-XRP-SHORT/) I used a time based mechanism to determine entries and exits ( it is important to still watch price action). The time has come again for XRP and there are some very interesting cycles at work that are calling for a buying opportunity at these levels.
Open a long today, buy some Ripple (stoploss €.35 cents(x1.15=$.40) and hold untill the 25th of August. I will make updates to this chart if anything significant comes up, if not, then for now a close of the position before or on the 25th of August is highly recommended.
Leverage is not recommended but if you feel the need to please do not exceed 5x (preferably 2-3x) Cycle trading is pretty dangerous on leverage as it doesn't give an exact price level to buy at and being overleveraged could ruin a perfect opportunity.
A little background:
I use a cycle theory based on the work of Gann and my own research into cycles.
Open a long today, buy some Ripple (stoploss €.35 cents(x1.15=$.40) and hold untill the 25th of August. I will make updates to this chart if anything significant comes up, if not, then for now a close of the position before or on the 25th of August is highly recommended.
Leverage is not recommended but if you feel the need to please do not exceed 5x (preferably 2-3x) Cycle trading is pretty dangerous on leverage as it doesn't give an exact price level to buy at and being overleveraged could ruin a perfect opportunity.
A little background:
I use a cycle theory based on the work of Gann and my own research into cycles.
Trade active:
average price = €0.38(x1.15=$0.437)
Comment:
Note that I'm pretty bad at picking good places for a stoploss (still learning) so if you think there's a better entry level and stoploss level, by all means trust your own judgement.
Comment:
Trade closed: stop reached