Hello new week my subscribers,
This morning, I just identified a nice SHORT position with Ripple coin.
- Observation: After running bullish movement from 0.4202 to 4.706. Now, price is moving side way within price range box (0.4607-0.4709). I realize that bull is getting weaker and open SHORT position is reasonable. Now, I will take a look at other considerations for guarantee my position:
1. Candle stick pattern: Price reached top at 0.4706. A pull-back movement happened from 0.4516-0.4729. Pull-back movement finished with bearish engulfing pattern.
2. MACD: At the time when price creates top, MACD line cut and moves under Signal line. MACD histogram's slop moves down
3. RSI: RSI line cut and moving under 50.
All my consideration supports SHORT. Therefore, I opened SHORT entry as below:
- Entry price: 0.4634
- Take-profit price: 0.4412
- Stop-loss price: 0.4759
Position is running as my plan. Now, I just keep patient and move down my stop-loss.
For any question, just leave your comment and feedback.
This morning, I just identified a nice SHORT position with Ripple coin.
- Observation: After running bullish movement from 0.4202 to 4.706. Now, price is moving side way within price range box (0.4607-0.4709). I realize that bull is getting weaker and open SHORT position is reasonable. Now, I will take a look at other considerations for guarantee my position:
1. Candle stick pattern: Price reached top at 0.4706. A pull-back movement happened from 0.4516-0.4729. Pull-back movement finished with bearish engulfing pattern.
2. MACD: At the time when price creates top, MACD line cut and moves under Signal line. MACD histogram's slop moves down
3. RSI: RSI line cut and moving under 50.
All my consideration supports SHORT. Therefore, I opened SHORT entry as below:
- Entry price: 0.4634
- Take-profit price: 0.4412
- Stop-loss price: 0.4759
Position is running as my plan. Now, I just keep patient and move down my stop-loss.
For any question, just leave your comment and feedback.