BEST RIPPLE STRATEGY IN CRYPTOCURRENCY TRADINGStep #1 Divide your 5-Minute Chart by Trading Sessions
Since we’re using a strategy only for day trading Ripple we need to make use of intraday charts. The ideal time frame to implement our Ripple strategy is the 5-minute chart. Also read the simple way of trading multiple time frames in forex.
The 15-minute chart will give us a better view of the overall price action and on the Ripple intraday trend.
Most cryptocurrency trading platforms can do this automatically and place a vertical line at the start of a new trading day. By doing this we can better visualize where the opening daily price is for each new trading session.
Step #2 If we’re on an Up-Day, Mark on your Chart the Time Window between 9 – 10 GMT Time
As we mentioned earlier we have found out through backtesting that the best time to buy Ripple is between 9 – 10 GMT. However, that’s only half of the equation because our statistics also show that the best time to buy Ripple is in the up days.
What do we mean by this?
We want to buy Ripple between 9 AM and 10 AM GMT. Ripple is trading above the opening price.
Our Ripple strategy is very intuitive!
If we buy Ripple above the opening price it means that we’re buying in the direction of the prevailing trend. Essentially, this is a trend following strategy deployed on intraday trends.
Step #3 Buy anywhere between the 9 – 10 GMT Time Window
From 9 to 10 GMT we have our window of buying opportunity. This time window also coincides with the London open and it’s the time when many cryptocurrency traders step into the market.
Now, depending on your trading skills and your experience you can fine tune your entry point within this time window.
Step #4 When day trading XRP Ripple hide your SL below the Opening Price
It’s quite intuitive why the logical place to hide your protective stop loss is below the opening price. Any deep below Ripple opening price will alter the bullish sentiment.
A sell-off below the opening price indicates that the buyers are weak and maybe we’re better off trying to buy Ripple on another day.
In order to make profit trading Ripple we also need a strategy to get out of our position.
We’re also proposing an unorthodox way when it comes to the take profit strategy which brings us to the next step.
Step #5 Take profit once the Price Travels the Same Price Distance it did from the opening price until 9 AM GMT
We’re going to suggest the best way to take profit on Ripple.
For an easy understanding of our Ripple take profit strategy we’re going to break down the strategy in two parts:
First, measure the price distance from the opening price to the high established between 9 to 10 AM GMT.
Second, project the same price distance to the upside measured from the low established between the 9 – 10 GMT window.
The same trading concept has been used multiple times in our various trading strategies. We recommend taking this approach because it incorporates the dynamics of the price rather than an arbitrary price on your chart.
Conclusion - Ripple Trading Strategy
It is said that Ripple has the potential to disrupt the SWIFT system for sending large amounts of money to different countries. Ripple doesn’t have much competition in this space and they have the right infrastructure to be the next Bitcoin. You can also read our best short-term trading strategy.
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Seasonality Intra-day Trading SystemEUR/USD Intraday Seasonal Patterns
Before looking on how the intraday seasonal patterns portrait the market it’s important to be aware that we can divide our trading day into four major trading sessions: the Sydney session, the Tokyo session, the London session, and the New York session. During each of these sessions, liquidity is not distributed uniformly and this is one of the causes why these seasonality cycles appear on an intraday basis.
See "Best Time" image under Intra-day section
Note* - 14GMT 10ET is green color - forex option release
Next, we’re going to look at two types of intraday seasonality cycles that will help us improve our FX game:
Intraday Volatility tendency;
Intraday top/bottoms tendency;
In the below figure we show the EUR/USD volatility in pips per hour of the day from the beginning of the year. This chart shows the EUR/USD tendency to have two main peaks in volatility:
One at around 7:00 GMT, with the maximum ATR(Average True Range) around 28 pips;
The second one between 13:00-15:00 GMT, with the maximumATR around 34 pips;
See "Volatility" image under Intra-day section
So, how is this information going to help you?
If you’re daytrading it will help you to time your trades much better. It will help you enter the market only around the time of the day when the ATR is at pick and it can show you a realistic expectation for the trade and how far away your TP should be.
Moving forward we’re going to look at the 10-year intraday seasonality cycles and EUR/USD top/bottoms tendency.
Usually it can be seen that the major intraday bottom is around 12:00 GMT right before the New York session so if your strategy for any given day is generating a buy signal this seasonality charts will help you time the market much better so you’ll be better off to wait for the 12:00 GMT before starting to buy.
In the same circumstance, you should avoid buying at around 8:00-9:00 GMT as usually around that time EUR/USD produces an intraday seasonal top.
See "Intra-day Average 10 yr" image under Intra-day section
Note* 14GMT 10ET - Forex Options can change price direction "EX. short"
The EUR/USD technical pattern should look familiar. We’re trading right into resistance level which means that we should expect a reaction lower. Secondly, from the intraday seasonal pattern, we know that right around 8:00 GMT we should expect a top to develop.
From the intraday volatility tendency, we also know that we have a pickup in volatility right around 7:00 GMT which again means that the reactions lower from resistance level should be significant. By using this information we could have sold EUR/USD at 8:00 GMT using a profit target that is in accordance with the intraday seasonal pattern.
Seasonality Trading Strategy
We know that 13:00 GMT usually produces the low of the day. The technicals also suggest that we’re near support level which means that a bounce is more likely to happen so we better take profits. Or at 14:00 GMT watch for a change in price direction because of the forex options release. Search internet for "forex options release" for what days they are to be released.
BEST RIPPLE TRADING STRATEGYDid you ever consider investing in alternative cryptocurrencies other than Bitcoin? If the answer is yes, look no further, the best Ripple trading strategy can make you profitable by trading one of the fastest growing cryptocurrencies.
By far the hottest topic in the crypto community at the end of 2017 and beginning of 2018 is the surge in the price of Ripple. Ripple price has blown up from under $0.02 to over $3 in under a year and has increased by 1,400% over the last month alone.
The first logical question that must be on the back of your mind is what is Ripple and why you should be interested to buy Ripple.
Ripple value has skyrocketed and it’s on everybody’s mind. At one point Ripple has surpassed Ethereum to become the second cryptocurrency in terms of market capital.
What is Ripple coin?
Ripple is a cryptocurrency based on a private blockchain that’s permission-based and centralized. It has drawn a lot of criticism from the blockchain evangelists because it’s opposite to the Bitcoin blockchain which is public and decentralized.
In a nutshell, Ripple technology is trying to securely and instantly provide an almost free global financial transaction channel.
So, why is Ripple such a great cryptocurrency?
Ripple is trying to solve an age-old banking problem. If you think about it in the system we use today we do a lot of international currency transfers which takes a very long time for these transfers to take place. So, Ripple is trying to update that system and make it faster and more secure.
We believe that Ripple cryptocurrency has a very useful place in the market as it’s servicing a huge need.
Even though Ripple coin is different than Bitcoin, one of the Ripple’s advantages is that it has fast confirmation so, near real-time and instant confirmation of transactions. Plus, Ripple cryptocurrency is extremely cheap.
Day trading XRP Ripple with Naked Charts
Day trading XRP Ripple we need to deploy different trade tactics because Ripple price action has its own personality.
Our TSG team has discovered through careful examination and backtesting that Ripple has the tendency to bottom on up days during a specific time of the day. Moving forward you’ll learn what the best time to day trade XRP Ripple is.
Step #1 - The 15-minute chart will give us a better view of the overall price action and on the Ripple intraday trend.
Step #2 If we’re on an Up-Day, Mark on your Chart the Time Window between 9 – 10 GMT Time
As we mentioned earlier we have found out through backtesting that the best time to buy Ripple is between 9 – 10 GMT. However, that’s only half of the equation because our statistics also show that the best time to buy Ripple is in the up days.
What do we mean by this?
We want to buy Ripple if between the time window from 9 AM to 10 AM GMT, Ripple is trading above the opening price.
If we buy Ripple above the opening price it means that we’re buying in the direction of the prevailing trend. Essentially, this is a trend following strategy deployed on intraday trends.
Step #3 Buy anywhere between the 9 – 10 GMT Time Window
This time window also coincides with the London open and it’s the time when many cryptocurrency traders step into the market.
Now, depending on your trading skills and your experience you can fine tune your entry point within this time window.
Step #4 When day trading XRP Ripple hide your SL below the Opening Price
Any deep move below Ripple opening price will alter the bullish sentiment.
A sell-off below the opening price indicates that the buyers are weak and maybe we’re better off trying to buy Ripple on another day.
Step #5 Take profit once the Price Travels the Same Price Distance it did from the opening price until 9 AM GMT
First, measure the price distance from the opening price to the high established between 9 to 10 AM GMT.
Second, project the same price distance to the upside measured from the low established between the 9 – 10 GMT window.