Golb

Golb

Hedge short

Golb

I was looking at $0.55 as a potential level that could initiate the bounce. I don’t not have an area that would give a tight enough stop loss so I didn’t teak the long. Im assuming a lot of people are looking to short this rally but im not so sure. Im still hunting a long but something that won’t require a 4% stop loss. The good thing is we’re still trading...

Golb

I would love to long $0.55 but BTC looks like it wants to spike lower. I would like to see price back above $0.60 or even that previous low at $0.65100 before I consider attempting another long. Price just printed a lower low, it’s not unreasonable to expect a lower high before another leg down. I think I’ll probably end up hedging this both ways. The area...

Golb

If you follow me you’ll remember I posted a warning about something like this happening on the 25th of may. My fear is that there’s very little standing between that CME gap and $12k, the market did not leave a lot of stops on the way up. They way down could be just as dramatic and violent. I saw a lot of people calling for longs and $100k, Internet gurus...

Golb

Got stopped out on the long, I honestly wasn’t exactly expecting price to dump this hard from the open. I was expecting some kind of relief rally before this dramatic a fall. I’ll be sitting on the sidelines and watch how the next few days play out. Currently price is trading at another point of interest. Let’s see how price reacts, hopefully I’ll get a chance...

Golb

Very interesting price action to end the week off. BTC giving some very bullish price action on the lower timeframe. A violation of the downward market structure has occurred at a level I was looking at, my $33k target wasn’t quite met but I don’t care. What interests me more at this point is $35k. We should see price come back to $35k to pick up orders before...

Golb

With only a few hours left before the weekly close I find it interesting that price spiked my zone and is now trading back above that $0.75 level. I gave a clear outline of what I was looking for going into next week, it seems one of those scenarios is playing out as I’m typing. I placed a limit order at $0.72 and my stop is below that highlighted zone. I know...

Golb

My final target of $0.75 has finally been met. Currently seeing some signs of significance in that level as price is struggling to close below it. On the 1hr timeframe you can see the accuracy of this level, what does it mean for me? To me this is reinforcing my idea that a potential reversal could be forming here. On the weekly chart things look very bloody...

Golb

My final target is within reach, I’ve been calling for $0.75 for some time now. I have a clear long term plan of what XRP could do but the “how” is the fun part. BTC is not looking good at the moment and whatever it does, the rest of the market tends to follow. Next week could become bloody dependent on how BTC wants to behave. There is a good chance we see...

Golb

Target 1 reached. $35k seems to be of significance, price could see a rally off here but nothing too dramatic. I haven’t seen any signs of a reversal yet. I’m macro bullish but that doesn’t mean I can’t short the correction and buy back at a lower price. Looking at the charts, next week could get very interesting, one more sharp decline in price could put a lot...

Golb

Longs are being massacred, my first target of $35k is close so I would call it a successful week. There isn’t much to say that hasn’t already been said in my previous post. I’ve been seeing a lot of people calling for higher prices trying to will the market higher while price action has been pointing in the opposite direction. People have been calling for all...

Golb

Today price took a tumble taking us back in to the range. At the time of writing price is trading just above the monthly open. I would like to see a significant break below this level. What do I see happening from here? I’ve got two targets for this short, both of these targets are potential long zones for me. 1st target $35k 2nd target $33k I’m interested...

Golb

Moved my stop to BE My logic behind this trade is as follows, if I’m expecting this month to be bearish, the best place to short would be as close to the monthly high as possible. If the longer term trend is bearish then that monthly high should hold and the previous months low should be the next target. Same concept applies on all times frames.

Golb Updated 

A lot of stops were taken on this move higher, I’m aware of the CME gap above price. Might see another push higher to fill that gap before potentially going lower. Entered a smaller position (1%) lower, stops above the previous high. The risk is low enough for me to be comfortable shorting. Let’s see how this second attempt goes.

Golb

As I mentioned last week I was looking for a short early this week. The move happened while I was away from the chart so I didn’t catch it, but this reaffirms my short bias. I’m still holding 25% of my short. I’ll only be interested in XRP around that $0.75 zone, for now I’m on the sidelines waiting for the next move. I noticed $0.90 seems to be a level of...

Golb

Stopped out on that entry, it’s on to the next. I’m still leaning towards the short side. Looking for any signs of weakness, if an opportunity shows itself I’m willing to short this again.

Golb

The weekly open has been lost, I would like to see a daily close below here so I can move my stop to BE. I explained what I was looking for even before the trade unfolded, while price was trapped between the monthly and weekly open. I would have liked to have caught this move above that monthly open, as mentioned in beginning of this thread, that would have...

Golb

I’m not a big fan of compounding positions but this might be too good to pass up. If the weekly closes without taping $0.75 I will probably short XRP again early next week. The whole market looks trash from where I’m sitting, XRP is notorious for making very large wicks. The move down could happen very quickly and price could shoot up again very quickly. I’ll be...