BITSTAMP:XRPUSD   XRP / U.S. Dollar
A long XRP trade setup, with almost a 5/1 return.
Personally in it for the longer run on the larger scale but can't help looking for day trade setups when they present themselves.

After the recent dump following the run in the past couple of months, I feel that price has hit a good level of support, there are no guarantees of course however price is currently in the zone of $0.22, which represents a very proven level in the past.

My target comes from combining the 1.618 fib level with a proven S&R zone slightly lower to increase the chances of realistically hitting the target in the near future, but still retaining a solid R/R.

Comments

Are you saying the price will go up anytime soon?
+2 Reply
wolseytrading ENDY_BEST
@ENDY_BEST, It's hard to say exactly when price will start to move properly again, and as mentioned in the above comment, the recent SEC lawsuit will be/has been the main reason for price action in the short term. As @KAOSBULL mentioned also there's every chance price could pull back a bit further to form a nice double bottom formation, so it really depends on your strategy as to whether now would be the best time to invest.

Personally, I have spent the last couple of years focusing on long term investing & portfolio building, so I've bought in at many various prices, and so I don't worry too much if I buy in at a price like $0.22 and it has a pullback, as it locks in my position early and I'm in no rush to withdraw so I can happily ride out any pullbacks.

If you're looking for a short term trade however, it may be a risky time to take a trade like this as the potential pullback to the $0.17 region could take out the position and daytrades are much harder to ride out & often lead to a loss.
Let me know your thoughts!
Reply
KAOSBULL wolseytrading
@wolseytrading, I think people should be swing trading XRP as there's a lot of FUD and, having proper risk management is key. I agree with your points above.
Reply
ENDY_BEST wolseytrading
@wolseytrading You really said it all,I think you're right. Really appreciate a lot,thanks man.
Reply
wolseytrading ENDY_BEST
@ENDY_BEST, No worries mate, will be interesting to see what the coming months bring!
+1 Reply
KAOSBULL wolseytrading
@wolseytrading, Agreed
Reply
ENDY_BEST wolseytrading
@wolseytrading,Bless you. Can I get your WhatsApp contact mate,would love to get know more about crypos and investing to better my trading experience?😔 We can be cool friends🤔
Reply
wolseytrading ENDY_BEST
@ENDY_BEST, DM'd you pal!
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ENDY_BEST wolseytrading
@wolseytrading, I followed you on Twitter,can leave a message buddy.
Reply
I come same agreement
+1 Reply
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