Time To Short Ripple XRP Again
Updated
DISCLAIMER: Please note that my trading approach is trend following. I try not to make predictions. When I see momentum developing to a direction I try to be one of the earliest participants. And when I see that momentum fades away, again I try to exit as soon as possible. I don't try to catch the bottom or the top. I don't try to be right, I try to be agile and flexible enough to join the right side before it's too late. Please also note that I'm a swing trader using daily charts.
Entry and exit signals are not universal in trading. They should be determined according to the trading method used. If your trading approach and my trading approach don't match, please do NOT consider them relevant for your own purposes.
Bullish momentum that led me to long
XRPBTC proved to be a false breakout and here I change my position to Short.
We have three major supports to break:
As usual, we have to admit that we can be wrong and place a Stop Loss accordingly. My initial Stop Loss will be at 6200 satoshi.
Entry and exit signals are not universal in trading. They should be determined according to the trading method used. If your trading approach and my trading approach don't match, please do NOT consider them relevant for your own purposes.
Bullish momentum that led me to long
XRPBTC proved to be a false breakout and here I change my position to Short.We have three major supports to break:
- 5000
- 4500
- 3700
As usual, we have to admit that we can be wrong and place a Stop Loss accordingly. My initial Stop Loss will be at 6200 satoshi.
Trade active
That position brought me a nice profit so far and I added another unit today. I'll ride it till the end. Let's see where it goes.Trade closed: stop reached
Yesterday's green candle hit my Stop Loss @5096 sats and my position is closed.
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