XRP 4hr Trade Plan
Updated
XRP showed a double top and sold off due to it not being able to break back above. ( .54800 ). With the way it's looking, I will be selling down. I have several alerts to see if price will hold -( .44500, .42000, .413000 ). before reaching- (.37000 ) I have a long account that I will be adding entries on top of entries lol. At (.37000 ) price should bounce and head toward ( .81500 ). Now I see a couple sells coming 47100 & 49100. I will be watching to what price does so I put aa short set up so you have. an idea what im looking at if that happens. Once price shows what im looking for, im in for the sell. Its almost time to hit the All time high
Comment
So far this has played out very well. On the 2 hour time frame we have a bull flag so it looks like it might push up to my stop loss area, Once price put me in the trade i moved my stop loss down to .48135. So waiting to see how this goes. If it pushes up I will reevaluate my trade. At that point there is several things I see it could do. 1. push to 49100 reject then come down. 2. wick all the way .52179 with a closure at 49100 then come down. but at that point I would be hoping it blow threw .47000, I would expect some consolidation at .44000. before breaking down below. due to its a strong area, I will be watching that heavily. If im wrong about this and its starts flying up so be it all good. I. will see that and ride the train. I trade both ways if I see the opportunity. .44000 buy to .47000 was so clean I couldn't help buying so, I adapt to the market. Thank you all that stopped by to check out my analysis.Comment
So as price was moving up to my stop loss I moved it back up to my original area and i'm glad I did, I would have been stopped out. Now back to .44000 we go, then som consolidation before making it to .37000.Comment
My first TP is at .44000, we almost there.Trade active
First Take profit hit. wild slam down.Comment
Now that price has pushed to .44. , There could be a retracement to .46550 then consolidate at .44. Still looking for the final push down to .37000. Once price reaches .37000 I would like to see it hold there. Again thank you for taking the time to check my. analysis out.Comment
What a great retracement, easy money.Comment
XRP doing its great consolidation bouncing between 48 and 45, still believe that we will get down to 37. Once we get down there I will post another analysis on what i'm looking at going forward.Comment
Nice drop last night, too long enough but this pair is like that at times. Still waiting for my .37 set up. I believe once we get that we will be pushing up and finally Finally going to the upside.Comment
So the pink dotted line on my chart were price is hitting is the highest Feb 2023 reached before retracing and closing at 37500. Now that is the price that was respected support from July and Aug of 2022. Now the support is a little higher at 37738. With February closing above that is the reason I think that we should hold and push up from that price. Price did reach to .41 which is were Dec 2022 opening price ,January 2023 closing price & Feb opening price held at. So that is a strong support as well. I only believe we will wick down to 37500 on the higher time frames if it goes lower more entries for me.
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