XRP swing trade

31 juil. 2018

Finally starting to see some signs of a potential bottom on Ripple. I see 3 buy signals on 12hr and an easy place to put my stops.

My buys are down to local bottom, stop is a comfortable distance below. Daily is still technically in a bearish trend, so this is a premature trade idea based on what I see starting to happen on low time-frames and what I expect to happen on higher time-frames, low R:R on stop for me.

A possible position is outlined on the chart to show you the R:R I am talking about, even with an entry at current price.

We are also inside the range Core has previously mentioned.

Time frame on this trade is 2-4 weeks.

If recent bottom fails to hold this is a fast exit for me and I will look for a new setup.

Lower time-frames are showing consolidation. Open targets for the moment, but I will update.

This is a journal of my own trades, I publish it for educational purposes only.

5 août 2018

Note

Trade going well so far.



Up over 9% of on entry and not looking to close this one yet. I will keep adding to this position on dips that hold above the daily 5ma and take profit at previous highs, or a daily close below the 5ma. Will reopen as long as price holds above the daily 20ma.

This is a great place to TP if you want to secure what you have gained, as a retrace looks imminent, but I am not taking profit on my entire position at this level.

6hr shows likely retrace over next 24-48hrs