XRP up to 60 Cents
Updated
Simple Pitchfork channels work Un-doubtfully well
Desktop users span out and look at the total over view of this chart.
Mobile users your just gunna have to trust me on this
Long position open up to ~60 cent mark
May re open it it shows signs of going up to the 80 cent resistance line.
Desktop users span out and look at the total over view of this chart.
Mobile users your just gunna have to trust me on this
Long position open up to ~60 cent mark
May re open it it shows signs of going up to the 80 cent resistance line.
Note
Rules to this chart as follows:Black and white channels don't quite act as opposites, do to multiple channels run over each other.
Upwards movement:
Continue in white PF channel until coming into contact with Black PF channel (Bullish move could push you through current black channel and in to the corresponding White channel above it)
Black channel is a resistance point so ANY deviation into this zone will most likely push you all the way through (you wont see much consolidation in these zones).
Downward movement:
In white channels continue down until hitting either a Black channel or a bullish wave (The deciding factor if you will pass through the corresponding Black channel depends on the amount of PF channels you are away from baseline.
Black channels Can act as strong supports in these zones if:
A) The next corresponding White channel downward is not "Touching" closely enough, forming as roughly triangle shapes (if you get caught in one of these black triangles it will be a deep consolidation and will find a high or low based on which type of cycle we are currently in).
B) a tight squeeze has occurred Which can happen inside or outside the black channel.
"The cycle times are the most important as it tells you where you are at in terms of growth (Breaking into upper channel)
And Consolidation ( Traveling up and down in a white channel."
Not on chart Will update in future, additionally:
Refer to Black Zones as strong resistance lines from past PF Channels
If you in turn have a conglomerate of Black PF channels intersecting at points on the chart there will most likely bounce off them
(unless closer TA tells you you are going to find newer Highs, "cup and handle", "Inverse HS", "FOMO" into on of the corresponding White PF Channels above.
More TA is always needed this is just the base overview of its current trend.
I hope this helps, im trying to explain my thought process as best as i can, but i was never good at showing my work
i was always to busy getting results.
Note
Tight squeeze up to ~43 cent mark followed by another tight sqeeze to hit ~53 cent line followed by another tight squeeze up to 60 cents, before hitting a top and finding our new support/ test support line at the ~53 cent area and returning to ~66centsClimb to break ~80 cent mark from there.
IMO
I checked the Cycle time and we Just ended our consolidation period not to long ago (5 days ago give or take) now starting early stages of our "Bullish Cycle.
Stop Loss ~26 cents
Note
Stop losses slightly dangerous in this area, currently in a "shake out" zone (Large spike in price up or down).Note
Most likely down initially to "shock" the market followed by exponential growth.Note
May see a drop as low as ~20 cents be patient massive bullish wave to follow on ~15th of august
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