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XRP/BTC - Why, How, and When I Think XRP Will Pump to 0.00005000What can I say... I had fun with this one. I didn't start off taking this seriously at all, but then like I usually do, I got really into it and that I started to recognize some interesting trend patterns - so I went for it. I started by inverting the chart completely. I wanted to be unbiased about this as much as possible. I have no trades open in XRP and I am not sure I am going to either, so this analysis really is just me putting out what I see. Enough chit chat, let's get into it and I will start trying to make sense of my method for you guys. As you can see I started from the all-time high and pulling trends to the most recent low. Each time one became invalidated or wasn't strong enough I worked my way to the next reasonable peak and drawing the trends to the lows (pretty standard stuff). While doing this, I started to notice that the price action in the waves started to follow along with these "non-standard" trendlines (is that even a thing?). I pulled four trendlines in the order marked on the chart 1,2,3,4. Trendlines 1 and 2 were a good starting point, but we can all see that they are not validating anything other than air (for now). Trendline 3 was broken and no longer viable --but! Trendline 4 really started showing some promise as the market seems to follow this as its resistance guide down on a journey together to validate the upward trendline at the very bottom - conveniently shoving it into a really tight cone at the bottom. When we break out of the first cone, the price is not going to go insane and for two reasons: one, it's XRP; two, Trendlines 1 and 2 make there way back to the show. You can't ignore previous resistance and support lines. The fib resistance and supports that are and have developed will play the price action back into another tight cone on the trend line not once, but twice and very close together (it's like running into two people--one after the other--that just want to beat you down. Someone's going to lash out and I think in this case it will be XRP. From this point, I needed to start predicting the future and to do that I used my faithful green time cycles to measure the time from the start point of the previous wave low to its peak. With the rough estimate of the wave cycles done, I went back to the beginning of the wave again, but this time armed with the trendline angle tool. Since I cannot really predict the future, I looked left and I gathered previous patterns and data to build what I think is the most likely scenario to play out. I measured the angle of the climb of the wave, the descent angle of the wave, and roughly matched those angles to the time frame of the previous wave and created my fictitious wave's pump and dumps. Based on my analysis up until this point, it looks like XRP will meet and likely break the downward trendline around the 7th - 9th of February. Once that excitement has calmed down, XRP will find it's way back into another trend-cone and look to test the next downward trendline around 24-26 June. Finally, XRP will meet its third trend-cone squeeze and likely meet and break it on 27 June - marking the beginning of breakout action and really great possibilities for a 2-month long with sights set on (or close to) the 0.00005000 on or around 27th September. Ladies and gentlemen, this may very well be what the XRPBTC chart looks like in the second half of the year. I hope you enjoyed this analysis. Please leave me your like comments, and criticisms so I can keep learning and keep getting better. Thanks! :D
XLong
by dbs2020
3
CADJPY - 1D - Trend Analysis (01/26/2020)Hi Guys! I usually trade using several oscillators/indicators which follows an algorithm on a daily time frame. For this trade idea, I will be sharing my chart analysis using price action (Fibonacci retracement, trend lines, and zones). As seen on the daily chart, it's still testing the zone and the 23.6 fibo level before we can confirm that it will bounce way back up. We will be conservative with our TPs. We can use the zones above as our TP levels. Cheers to all! Be wise and patient! Never give up on trading, it will hone your talent and character. Kudos!
Long
by adoytrades
1
[NEWBIE IDEA] EURGBP bottom weekly range ?/!\ I'm a newbie in trading. So I share my ideas as is and only to get comments from community. I don't give any advices. /!\ Weekly range spotted thanks to Ichimoku on EURGBP. I take an entry maybe a little to early because I didn't wait the price to hit the bottom and see if there is any candlestick showing a price return. Target is first range median and then range top. BUT : I havent't checked economical calendar... Newbie error. Anyway, will see. :) /!\ I'm a newbie in trading. So I share my ideas as is and only to get comments from community. I don't give any advices. /!\
Long
by KrustyHack
2
GOLD - 4H - Bullish??Rules dictate that Gold should be Bullish, ihowever would like to see another spike down to 1448'ish for a better entry Gold Been consolidating most of Nov and could potentially move, this week. We need to be considerate of the fact that we are in the last month of the year and this may just cause for some serious Manipulation in the markets. Let look for HIGH RR trade only and not just take anything we see come our way. Plan the Trade, Trade the Plan! RULES, RULES, RULES!!!
OANDA:XAUUSDLong
by bsinfx
2
USDCHF - 4H - Think you missed the train?I know how it feels when you think you have missed the Train. Remember the Market does not move in a straight line, give the market some time and sometimes the market will give you an additional opportunity to enter the Market with a lower risk profile(if they feeling giving). Patience is key when you feel like you have missed the move you have been waiting for, dont try to catch a falling kife. I know it becomes difficult when you see other posting Sniped it, you not trading for them you are trading for yourself and in this game Psychology is KING. You have you own goals you trying to achieve, do it the way you have set out to do it. Failing to Plan is Planning to Fail Rules Based trading RULES, RULES, RULES!!!
Short
by bsinfx