Long

XRP/USDs / Trading Plan +Analysis + Targets. Risk Management

Updated

TRADING STRATEGIC

Chart Analysis:
Chart Time frame 30M
Time Frame: 5M-15M-30M-1H-4H-1D

Since last crash we have formed a symmetrical triangle (downtrend points 0.52945 : 0.42919 : 0.39604) (uptrend point 0.032800 : 0.034660 : 0.035330). at the bottom we formed a Head and Shoulders:: H&S that shot us to the top of the triangle. Yesterday, price action has broken a resistance trend line (points 0.52945 : 0.42919 : 0.39604) , but it is interesting to me that the price has HOLD 0.35000 creating rejections candles at that level, I personally was expecting an more aggressive drop from that breakout. Will it HOLD? just time will tell. However, If we managed to trade again above 0.03600 Level we could potentially move to the upside (False Breakout psychology), Please also notice the trend line formed recently creating a descending triangle (30M chart) I have counted Elliot Wave triangle and i concluded that we are in a wave (E) coming from the downside which is positive. In addition, I belief that were in a correction wave, then an impulsive wave will follow.

Indicators:

Bullish at 1D chart, starting with RSI at his lowest since October, StochRSI low flat. We also are siting in a Daily red 9. We have Bullish divergence on the 1H and 4H chart in the RSI, also StochRSI is starting to turn bullish, but I would not give so much relevancy since we are few hours apart to start receiving confirmation signals, moreover, AO its starting to reverse from negative to positive area. 30M Stoch RSI signal Buy. I am waiting for 4H chart to start his up cycle (stochRSI signal), But I need to go and work, so I will trust my Instinct take this trade under the following trade Management having in mind what i have mentioned above.

*Relevant News*
- globalcoinreport.com/ripple-santander-apple-pay-touch-id/

PS: While I was writing this post I observed what i consider a Whale Entry at 12:30 am UTC- 8 , something that I would have in mind. They also stop the price down momentum an now is moving upside.

Trade Management:
Mercury and Earth are the most likely targets, rest I could be treaty as a calculated fantasy.

Trade entry: 0.35490 ( ACE)
Stop Loss: 0.34950

-Targets:
Mercury: 0.38210
Venus: 0.39687
Earth: 0.40700
Moon: 0.42315
Mars: 0.43931
Juniper: 0.45535
Saturn: 0.47316
Uranus: 0.49310
Neptune: 0.50752
Pluto: 0.53463
Interstellar Travel: Unknown (Bull Market:?)

-Risks/Rewards:
Risk/Reward Ratio: 12.54 ( Mercury Only)
Risk/Reward Ratio: 20.06 ( Venus Only)
Risk/Reward Ratio: 33.76 ( Moon Only)
Risk/Reward Ratio: 74.73 ( Pluto Only)

RSI Total Market Altcoins Cap

Trade active

Note

First target reached: we land at Mercury

Note

I'm expecting consolidation around this level, then move on to the next target

Note

During the night XRP just went to Venus for a short period of time, Im reading the chart as it goes and I believe that we could potentially go higher.

What I would do?
Now getting ready to work. So i wont be looking at the chart until late afternoon, but If i could i just would accumulate more XRP on the one day as efficient as possible. and just be ready for the next motive wave.

Note

XRP is resting 0.37750 Lvl If we hold It will start rallying again to the upside, also notice how StochRSI read to pop and RSI is in slowest since 6am this morning

Note

Price Reaction to my last comment.

Note

Important update!: We have a candle rejection ( inverse hammer ) @0.38740, this is significant because Indicador are getting overbought. I exited my position at the very top, Ill be looking for the next entry. Cheers

Note

If we manage to trade above 0.38500 we have a good change to keep going up.

Note

4H chart: XRP has been compressing, RSI has become neutral channel, this is good because allow prices to go up again. StochRSI is ready for another Bull cycle.

TD sequential is showing us a green 1, if we managed to have a green 2 trading above green 1, this will the trigger the next upside momentum. However if we start rolling down down, and we get a red 1 and after red 2 trading below red 1 this momentum could break our support line @0.37000 level.

Note

We have broken A major channel and down trend with a bullish engulfing candle (poll) forming a Bull flag with a target of 3.5%. Also StockRSI is about to cross to start a bullish cycle.

Trade closed: target reached

Trade closed manually

vfxvictor

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