Possible Bearish setup for XRP
Mis à jour
Ripple is getting many attention at the moment due to the insane spike on last friday.
Many people, including myself were confident about a possible retracement and a spike upwards again.
Opinions change including mine, at this moment i am not fully confident that BTC will complete the expect small leg-up towards 6670 USD area.
The end of the daily candle is coming close and it looks bearish to me.
That is why i made this XRP bearish setup because i think there are some possible nice % to achieve here.
I have adjusted my earlier idea on XRP and as you can see i think we are still in the ABC correction.
In wave B the triangle appeared in which we went down earlier today.
Now on the 5 min chart i spotted another possible triangle which i would name bearish now due to BTC circumstances.
Did not had to time in my opinion to do proper wave analysis on 5 timeframe, since it looked like it could fall any moment.
Since i want to keep my stoploss tight, i have my stop at C on the triangle, see my setup below:
Stoploss: 0.53USD
Entry: 0.52 (aggressive)
Entry: 0.51 (more passive confirmation)
As i am typing this we are going down a bit, lets see where this ends.
Possible end target is 0.38 ~ 0.40 USD.
Good luck!
Many people, including myself were confident about a possible retracement and a spike upwards again.
Opinions change including mine, at this moment i am not fully confident that BTC will complete the expect small leg-up towards 6670 USD area.
The end of the daily candle is coming close and it looks bearish to me.
That is why i made this XRP bearish setup because i think there are some possible nice % to achieve here.
I have adjusted my earlier idea on XRP and as you can see i think we are still in the ABC correction.
In wave B the triangle appeared in which we went down earlier today.
Now on the 5 min chart i spotted another possible triangle which i would name bearish now due to BTC circumstances.
Did not had to time in my opinion to do proper wave analysis on 5 timeframe, since it looked like it could fall any moment.
Since i want to keep my stoploss tight, i have my stop at C on the triangle, see my setup below:
Stoploss: 0.53USD
Entry: 0.52 (aggressive)
Entry: 0.51 (more passive confirmation)
As i am typing this we are going down a bit, lets see where this ends.
Possible end target is 0.38 ~ 0.40 USD.
Good luck!
Transaction en cours
The price is going the way we expected which is good.Unfortunately i do not have a lot of time to manage my position today but i am willing to take a small risk here.
On the 5 minute chart XRP keeps bouncing of the 200 EMA line.
15 minute chart the same, keeps bouncing of the 21 EMA line.
I am going to put a stop order slightly above this line.
If my stop order gets hit i will still have a decent 8% profit which is totally fine by me.
Have a good day!
Trade fermée manuellement
Just closed my trade at 0.4545, saw a breakout on EMA level on BTC and XRP.Since time shortage decided to close my trade with a good 14% profit.
Good trade and will hunt for a new setup tonight!
Enjoy the profit if you entered this trade.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.