Hello everyone, it feels like forever since XRP has been THIS bullish and with how the chart data, we can extrapolate 2 potential trade ideas.
Before you trade, supporting data for long:
1) Price trending upwards
2) Price above the EMA21 and SMA50
3) Record breaking Volume.
4) Some fundamental news, but I don't care about that at all. Just do what the charts say and you will be fine.
Long#1 = Green Box. You can enter with about 25-35% of your allocated amount for an XRP long. SL is the first orange trend line.
Long#2 - Purple. You can long this either after a test of the SMA50 or simply buy. Recommended position size can be larger as this buy would carry less risk. More prudent traders would want to wait for a close above the EMA21 before getting in. SL is the second orange trend line.
1st buy profit target = 20%+
2nd buy profit target = 30%+
SL for each are about 10%.
Some additional info:
Purple horizontal lines represent potential supports/resistance.
Red is the resistance that XRP needs to close at least 2 candles above before a higher chance of continuation might take place.
Orange Trend lines are dotted for clarity and also an idea on how to move up your SL as price moves up.
May the odds ever be in your favor. May BTC break 20k and reach heights unseen.
Before you trade, supporting data for long:
1) Price trending upwards
2) Price above the EMA21 and SMA50
3) Record breaking Volume.
4) Some fundamental news, but I don't care about that at all. Just do what the charts say and you will be fine.
Long#1 = Green Box. You can enter with about 25-35% of your allocated amount for an XRP long. SL is the first orange trend line.
Long#2 - Purple. You can long this either after a test of the SMA50 or simply buy. Recommended position size can be larger as this buy would carry less risk. More prudent traders would want to wait for a close above the EMA21 before getting in. SL is the second orange trend line.
1st buy profit target = 20%+
2nd buy profit target = 30%+
SL for each are about 10%.
Some additional info:
Purple horizontal lines represent potential supports/resistance.
Red is the resistance that XRP needs to close at least 2 candles above before a higher chance of continuation might take place.
Orange Trend lines are dotted for clarity and also an idea on how to move up your SL as price moves up.
May the odds ever be in your favor. May BTC break 20k and reach heights unseen.
Trade active:
1st position area was stopped out. 2nd Position area is up over 30%! Remember to book some profits along the way. SL is now at 43 cents.
1st position area was stopped out. 2nd Position area is up over 30%! Remember to book some profits along the way. SL is now at 43 cents.