LONG RIPPLE SETUP - current price 0.26cents, 29 June 2017 @supertrader
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We have a potential long setup on Ripple (XRP), however, we must first wait for confirmation.
A nice wedge pattern is forming on the Daily chart .
To have a larger view of the chart, just right click on the chart image and select "View Image"
If price can rise above Kumo (the cloud) and have a breakout of the downward trend line, we have a trigger to go long. Stop loss will be placed at the last low around 21cents (0.2077)
This presents a 3:1 (2.8:1) risk reward
Roadmap for targets :
T1 38c
T2 44c
T3 53c
Analysis by Sean Vengan 29 June 2017
Hope this helps.
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Great piece of work! I look forward to reading your other posts!
Thank you for your kind words.
I sure hope so. It's been fairly quite. Which is a good thing I guess.
Definitely quiet is good.
Think of it like a coil ready to spring....the longer it remains dormant the more explosive the move and also the higher the chart is eg weekly is a higher time frame than the daily, then the more significanct a move wil be (this applies to shorts as well as long). Hope that helps...please upvote and repost
This is interesting; looking forward to more posts like this, thanks!
Got you thx...
You have seen the coin supply for Ripple, right? With that and the fact that half the people won't touch it because of it's involvement with centralized banks... it's not going to the moon as so many hope and wish. It may go up a few cents but I just don't see it moving as much as people think it will. Appreciate your posts and insight though.
Yeah the connection to the banks is a noose around its neck - not sure what marketing spin they can put on this. Personally I hope the banks are on their way out - they have exploited the likes of me for too many years. Thank you for yoru comments...all comments agreeing/disagreeing with me I encourage - let's hear what you guys think? Trading is all about opinions.
well said.
Great article! I hope you are right and i have the same feelings towards ripple in these early stages.
Thank you for your kind words. Let's walk the same path and see...=)
meep