XRP Scalp Quickpost
Updated
Very quick post. XRPUSD is outside the 4h bollinger band and it has a lot of hidden bullish divergence (higher low on the price action, lower low on the indicator) which behooved me to close my short and look for a move at least to the top of the bollinger band.
Price action has broken the resistance I was using to add to my shorts. This is a relatively high risk entry because I am using a low timeframe and pulling the trigger with little confirmation. There is a slight chance that XRPUSD goes out of my channel but that is basically hopium for me at this point.
My linked post shows my head and shoulders short entry and I made it very clear I was concerned that we would get a lot of under performance. With that background I am long right now. Due to the rapid nature of this trade I hope to have a profitable stop loss or manual close shortly. I hope to continue to beat money out of XRPUSD and buy ETH, which is a marginable collateral currency in Kraken.
Price action has broken the resistance I was using to add to my shorts. This is a relatively high risk entry because I am using a low timeframe and pulling the trigger with little confirmation. There is a slight chance that XRPUSD goes out of my channel but that is basically hopium for me at this point.
My linked post shows my head and shoulders short entry and I made it very clear I was concerned that we would get a lot of under performance. With that background I am long right now. Due to the rapid nature of this trade I hope to have a profitable stop loss or manual close shortly. I hope to continue to beat money out of XRPUSD and buy ETH, which is a marginable collateral currency in Kraken.
Trade closed manually
Scalp closed at the ray. Will look to long at the base of the channel. If we break out I play the break out as a flagpole.
And I promise every Floridian that you will all be rich... because we're gonna print some more money! Why didn't anybody ever think of this before?
~Nathan Explosion
~Nathan Explosion
Related publications
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.