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Price Channels

Price channel trading: XRPXRP is an unusual coin.While it has no real appreciative value, it does provide very good trading value. What makes XRP so unique compared to other cryptocurrencies? One thing, and its not related to XRP's fundamentals. XRP is often regarded as the unstable stablecoin simply because it has a very pronounced price channel. A price channel is where an asset typically remains consistantly between an lower boundary and an upper boundary. Stablecoins, like USDT, are common for this natural occurance. Most cryptocurrencies are not common for this behavior. Their prices fluctuate unpredictably. XRP has been very consistent lately. If you have a lower boundary of 0.26 and an upper boundary of 0.29, you will consistantly profit roughly 10%. The amount of time needed for this to happen is, of cource, questionable. Finding a price channelis fairly easy. You can use long range moving averages based on the high/low of a candlestick using a script or series of scripts. I chose to write my own which lets me fine tune this approach into a consistent profit. There are a few thing to be aware of. First, you will be buying each and every time the price drops below your lower boundary. That can actually be alot of purchases very quickly, depending upon your budget. Planning your budget will be very difficult, unless you use an isolated wallet where you can just let the algorithm exhaust it. You could alo filter the number of purchases, but you will inherently dimenish your profits. Second, risk assessment become very difficult or even impossible to messure. An asset like XRP has been price bound for a long time, but there is no way of knowing if that will hold true in the near foreseeable future. It could become as unstable as BTC, or it could liquidate into nothing. No risk / no reward is a common theme among crypto traders. How much risk is too much? Only careful analysis can answer that. The attached chart is my own analysis using the tools I wrote. This is a fairly easy trading method, if you have the budget to survive the accumulation. I chose a very simple entry point of buying in when the price drops below 0.26 and an aggressive dollar cost averaging process that triggers at a flat 2% profit. This fits my own risk assessment. If you have a higher risk tolerance, you could potentially wait for the price to cross 0.29 before you sell. The flexibility of this approach lends itself to many different levels.
BINANCE:XRPUSD
by RobertD7723
NVDA PRICE CHANNELWho doesn't know NVIDIA? If you're reading this, all you need to do is dismantle your PC and you'll certainly find components inside manufactured by the semiconductor manufacturer leader. Although price is at rich valuations, technical analysis shows a price channel intact while consolidating for the past four weeks setting up for a Blue Sky Breakout. It's not too late to participate in a potential explosive price action on this stock. Consolidation above the 20-day EMA is as solid as it can get. A counter trend break a few days ago validates what could potentially be a trend continuation. A false breakout last week is just an indication of buying interest on the stock. Similar to its competitor in the semiconductor sector is AMD with a much more volatile and longer consolidation and still hasn't broken its previous February high. This clearly cements NVDA's leadership in the sector.
NASDAQ:NVDALong
by TradingMavericks
2
EURCAD, multiple scenariosEURCAD currently is still at a descending channel. We can expect a bullish scenario if ever it breaks out it resistance. But be cautious not to be predictive but rather reactive. As it now approaches the resistance, it may do three things and reacct to the significant level Breakout - which is a bullish confirmation, but watch out for false breakouts. A breakout must be supported by a reasonable volume. Reversal - reverse and go back to previous levels (minor - yellow line, major - purple support area) and Consolidate - may consolidate above or beneath the half of the channel. And may give us more sentiment of the market Still have no Bias and must wait for further confirmation. You can support the idea by liking and following. You can also share your ideas by commenting. I am open for conversation, suggestions and corrections have a nice trading day :)
by Jimbololoy
AUDUSD Bounce off 2008 Monthly lowAUDUSD has just entered a level it hasn’t tested since 2008! A huge move to the upside will come as long as this level holds. This is a strong BUY set up. The 15min chart just showed signs of high volume & decending wedge Roth into the level. Price may bounce off & go back into the level before it springs to new Daily highs. If you haven’t made any money all year, this is a free throw shot waiting for you!! As far as stocks, don’t play into the Coronavirus being the cause. Professional traders know this is nonsense. I’ve been shouting short STOCKS since December. The charts tell the story. The news is always the scapegoat.
Long
by BillionaireTomBoi
1
Why buy the bear dump? Wait for the handle pattern.Bear dump's are the freshest, but lets wait for the poo to cool first. Recent setup: Attempt to test the high fell short with a low vol top, resulting in a breakdown with expanding vol. New support at 8700 We could see another impulse to 8500-8300, then a sideways channel that could break either way. Should you buy or wait for better prices? More aggressive strategy: preempt the handle bottom/channel 13 day handle (total 70 days since mid dec bottom) possible handle bottom on day 20 since the cup finished (mar 4) You should buy this dip if: you believe the bulls are back, and we won't see 7K again, Want to add to existing position in the money Don't have any exposure Otherwise wait for better prices.
Long
by pokp
MBT DowntrendMBT has been stuck in a downtrend since 2006, a continuation of this downtrend is most likely. However rising MACD shows promise, it may be rejected as seen before (highlighted in blue box) Gaussian channel shows a possible rejection at the middle. Blue line shows a rounded bottom which is another bullish sign, however it looks particularly bearish in these conditions. Two double bottoms can also be observed, will the second lead to another rejection at the downward trendline?
MShort
by Bixley
btc pullbackbtc just held the upward sloping trend. i've already added to my position, awaiting a pullback to add more as long as the trend holds.these new shares i've entered will be sold if price cannot break through & hold the top red line. this will exhibit weakness & potential failure of this position, resulting in the upward sloping (green line) trend. a failure of this trend will produce a significant pullback in the BTC price. see my previous charts for how low BTC is likely to drop before going any higher (if the upward sloping (green line) trend fails..
COINBASE:BTCUSDLong
by BillionaireTomBoi