Is Ripple, XRP/BTC setting itself up for another move up?
As you can see Ripple, XRP/BTC has been consolidating after a nice runup since yesterday and is now forming a (bull) flag pattern.
Is XRP/BTC setting itself up for another move up? Well, we have to see about that but with all the rumors and hype around Ripple possibly being the next coin to be added to Coinbase, it could certainly make another move again soon.
So if XRP/BTC manage to break out the flag, preferably with increasing volume, then we could see Ripple make another run.
Trade instructions if you want to trade XRP/BTC:
Buy Area:
Wait till XRP/BTC is close(r) to its Apex. Enter when it breaks out of the flag on the upside, preferably with increasing volume.
Profit Target:
1. 0.00009800
2. 0.00010200
Keep in mind that you can take profits at any time when you feel comfortable with or want to secure your profits. You don't have to wait for a target to be reached in order to sell.
And you can always sell a portion and let the rest ride longer. This will give you peace of mind and more patience to stay in the trade and adjust your stop accordingly.
Stop loss:
Use the 12 and 26 ema's to trail your stop loss when you're in the trade. When the price falls below the 26 ema, then you can stop out of the trade.
Please leave a comment if you have any questions.
And good luck trading!
Is XRP/BTC setting itself up for another move up? Well, we have to see about that but with all the rumors and hype around Ripple possibly being the next coin to be added to Coinbase, it could certainly make another move again soon.
So if XRP/BTC manage to break out the flag, preferably with increasing volume, then we could see Ripple make another run.
Trade instructions if you want to trade XRP/BTC:
Buy Area:
Wait till XRP/BTC is close(r) to its Apex. Enter when it breaks out of the flag on the upside, preferably with increasing volume.
Profit Target:
1. 0.00009800
2. 0.00010200
Keep in mind that you can take profits at any time when you feel comfortable with or want to secure your profits. You don't have to wait for a target to be reached in order to sell.
And you can always sell a portion and let the rest ride longer. This will give you peace of mind and more patience to stay in the trade and adjust your stop accordingly.
Stop loss:
Use the 12 and 26 ema's to trail your stop loss when you're in the trade. When the price falls below the 26 ema, then you can stop out of the trade.
Please leave a comment if you have any questions.
And good luck trading!
Trade active
The trade is still active since XRP/BTC is still in the flag and has not been broken yet. Only the flag has changed its form from a pennant to a triangle formation: Note
Be aware though that Ripple already made a big move and that there's good resistance around 0.00009500 so better take profits where you can and don't be too greedy if you're looking to day trade this bad boy.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.