Hi, friends.
Current situation at XRP.
After fixing we have a Wide balance with the range 0.43-0.52.
On chart I indicated it. Also I indicated mini-balance which will play an important role in where the price will go in the future. If the price breaks 0.4685, with a high probability we will see a raise up to 0.5150.
But if this mini-consolidation goes down, our wide balance goes down too. It would be very bad for XRP. So, for buyers very important to hold the price above 0.43.
Trading recommendation: intraday trades in direction where the price will go after leaving the mini balance.
Glossary of terms
Current situation at XRP.
After fixing we have a Wide balance with the range 0.43-0.52.
On chart I indicated it. Also I indicated mini-balance which will play an important role in where the price will go in the future. If the price breaks 0.4685, with a high probability we will see a raise up to 0.5150.
But if this mini-consolidation goes down, our wide balance goes down too. It would be very bad for XRP. So, for buyers very important to hold the price above 0.43.
Trading recommendation: intraday trades in direction where the price will go after leaving the mini balance.
Glossary of terms
- Point of Control (P O C) – The price level for the time period with the highest traded volume .
- Value Area (V A) – The range of price levels in which a specified percentage of all volume was traded during the time period. Typically, this percentage is set to 70% however it is up to the trader’s discretion.
- Balance - Accumulation Area.
- F L - flat level.
- T L - trend level.
- Fixing (fix, culmination) - reverse price reaction then the markets stops i'ts movement for a short time. The trend stops when it passes through 2-3 fixing movement.
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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.