Please look at my previous idea to get some history behind the analysis of this pair.
Price action may be breaking the upper trendline, and what we saw toward the back end of last week could most likely have of been a flag. THIS IS NOT YET CONFIRMED. If I get a confirmed close on the daily this could put the pair in a good position to move up for the rest of the...
Since the bullish run in Dec 17, which was arguably the best period cryptocurrency has ever seen, XRP along with many other cryptocurrencies were then subject to a huge sell-off. XRP has been stuck in a descending channel ever since. Current price action put this pari back in the area of the channel top.
Where could we go now?
Personally it's hard for me to...
Price action has moved sideways, and how shown support at 0.29 and rejection of the 0.31 levels. This can typically happen following strong price action, as on the 01-02 of August. The MACD is looking good and is showing signs of the bullish momentum fading. In my opinion this is still a valid set-up
Although this was a successful trade, I did not enter this simply because it did not fulfill the conditions of my trading plan.
Most things were spot on;
-Confirmed break of ascending trendline
-Retrace to the ascending trendline (although this was still a risk with the retrace being a large wick of a candle)
-The other levels within the fib had seen some...
Price action has broken the channel. I will now look for a retest to the channel bottom, and then enter a short position with the target of the 1.618 level of the fib. I have set a sell limit order in case this happens overnight. Stops nice and sort above line of resistance
AUDUSD has broken out of a channel but remained high. I think this could have the potential to form a triple top before falling again. My target would be the 1.618 level of the fib. I will be setting up pending short orders for the triple top area. The MACD is also showing the bulls tiring. One to keep an eye on...
We have seen a break and retest of the ascending channel in the 4 hour view. This has been confirmed by the 4 hour candle rejecting and closing outside. I have applied the fib to give us the target target just above the 1.618 level.
