XRP long scenario
Updated
In my previous post I made clear that there would be one more push to the upside before I expect the larger correction to the downside because of psychological reasons.
(CHECK IT OUT ON MY PROFILE IF YOU HAVEND SEEN THAT ONE YET)
This is a long trade I will take to try an catch that move up.
orderblock + 61.8f fib+ trendline.
The fib extension lines up perfectly with the first upside target of my previous post.
price doesn't have to retrace to the 61.8 and could easily move up from this point, however a deeper pullback is possible, and that's where this trade setup could occur.
When these upside targets hit, I will reallocate all resources gained from the move into the lows around 20 dollar cents as explained before.
(CHECK IT OUT ON MY PROFILE IF YOU HAVEND SEEN THAT ONE YET)
This is a long trade I will take to try an catch that move up.
orderblock + 61.8f fib+ trendline.
The fib extension lines up perfectly with the first upside target of my previous post.
price doesn't have to retrace to the 61.8 and could easily move up from this point, however a deeper pullback is possible, and that's where this trade setup could occur.
When these upside targets hit, I will reallocate all resources gained from the move into the lows around 20 dollar cents as explained before.
Note
trade missed by a very little 0.3%, however I will keep the order open till tomorrow in case price decides to test the area once more to fulfill the 61 fib. If price continues up from here I won't complain either as I have my first big sell at 1.3 dollar, which is the target of this trade. The second upside target is at 1.48 dollar, where I have my second big sell situated. When one or both upside targets get filled I will be waiting for a market crash to around the 20 cent region where I will be re-entering with all resources gained from the sell. If this plan changes in the future I will keep you guys updated!
In case you are following what I do I recommend to never sell off all your holdings. I will personally only play with 50% of my bags on this move and leave the rest for the long term. This is NOT financial advice!!
Order cancelled
cancelled the order, will just sell a part of my bags at the upside targets
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