Possible Bearish setup for XRP
Actualizado
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!
Operación activa
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!
Operación cerrada manualmente
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.
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