6month log chart on xrpusd suggests crazy potential targetsThe bull pennant we are in shown here on the 6month time frame seems to have a symmetrical triangle for its flag. The breakout target for just the symmetrical triangle is in the $33 range. Factor in the pole of the flag and the potential target skyrockets to 1.2k. Definitely not financial advice and certainly no guarantee it will hit either target as it’s still up in the air if log chart targets reach their full target as reliably as linear chart patterns do. Even if it does hit these targets you can see the apex of the pennant in its current trendline trajectories doesn’t occur until 2026. The only way I see price remaining inside this triangle for that long is indeed if the SEC ripple case is extended through appeal and taken to the Supreme Court. Hopefully not but it isnt impossible. If this were to occur I would simply keep dollar cost average accumulating until it was to break out from the triangle which would give me more opportunity to take some profit at the first target but then also hold onto some of the asset in case it does indeed reach the full bullflag breakout somehow all the way up at 1.2k. Simply posting this hear so I can see how well price action chooses to follow this pattern over the next year or few. Once again *not financial advice*
6month
CRL | 6MH breakout | Range trade-I should have not probably bought intraday but the bias is this would break 6MH.
-Gap up open
TP: MYH resistance
Exit/Stop loss: -4%
6-month switching strategy. For the busy/lazy investor.This strategy would be seen as pitifully lazy to the active day trader, however, to the beginning trader, or the person who is otherwise occupied with life events, this is a strategy that is easy to duplicate.
All you do is wait for the end of April or the beginning of May. This can be done easily enough. Then open up a chart, and find the MACD indicator. Wait until you see a crossover on the MACD to the downside from the Daily timeframe. This indicates markets may be correcting, and it's time to take your money and leave.
Fast forward, it's now late October. You are thinking of your Halloween outfit, and how it's going to reflect your exceptional(ly dull) personality. Something dings in your mind and you remember the 6 month switching strategy. You go to your computer and log in to whatever you do with your money. You open up the daily charts, and check it periodically until you see a crossover to the upside on the MACD signaling everyone and their fat uncle is putting money into the markets, and that you should too.
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I apologize for the colorful characters in this particular narration. This gets boring, and I dislike giving people financial advice. Every time you answer one question, they will have 70 more. People really mistake being nice for being stupid. It's pretty f***** annoying.
Anyway just a friendly reminder that the s&P looks like a branch that's growing onto your neighbors property. It's gonna get trimmed. With love. :)