Rod_85

Cypto needed to cool off

CURRENCYCOM:XRPUSD   XRP / U.S. Dollar
165 views
3
Ripple and the rest of them need a deep retracement. What happened in 2017 was abnormal - it was a bubble. Check out my ideas for Bitcoin also and you'll see what I mean.
Comment: I have positioned myself in at $0.33
Comment: Must be said. Stop loss just below the low of $30 is activated for me. Always have a plan incase you're wrong. It happens. At the moment, price is wandering at around $33.
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Comment: I got stopped out, now back in position after the bounce from old residence trend. $21 was achievable. There needs to be stop losses everytime, as I wrote earlier. Never loose too much and then start again.
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Comment: Super zoomed in chart. 1 minute candles
Comment: It might come back for the $0.20 hitting that trend line, but as it's recently been much higher, I think this sturdy support will hold and i think present prices are a bargain at $0.26.
Comment: Waiting on a breakout.
Comment: Just for educational purposes, this is what you call a capitulation.
Comment: Break out has occurred. I have added to my possition
Comment: This is no target. Just leave a trailing stop loss on with generous room. You can look at fibs, SMAs and historical price sticking points for potential resistances, where you might want to tailor down the trailing stop, but otherwise, just leave it and forget about it a bit. This is swing trading structured and I hope I will be in this trade for a few months.
Comment: Merry Christmas! 🎅

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