TheTrex
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XRP - Consolidation coming to an end?

POLONIEX:XRPBTC   瑞波币/比特币
7456 13 41
I will be opening a long position from this point, the Risk/Reward ratio is good and if it drops below then it was a good opportunity. Consolidation can break up early or take longer.

Support:
7400 - Very strong
9200 - Strong
9800 - Good

Resistance at:
12000/12300 - Should be first target point to be reached.
13000 - Decent Resistance, wise point to short some here
14500 - Strong resistance
16000 - Very strong resistance

Some significant dates of long-term bullish/bearish crossovers:
7 July (Long-term golden line support cross with red resistance in 0.382 which is also support).
12 July - 13 July Outer cup support should kick in.

Note: I'm not responsible for any profits or losses, neither am I an professional advisor. You can follow my trades if you like them, wish you (and me :D) good luck with all the trades!

If you would like to donate ( BTC             ): 1EoQaEWnfvY2myGdjcjd7nZsAn5UzFkPxt

TheTrex
评论: Close-up of 1H chart, seems to closing on to the date I highlighted vertically.
评论: If your looking for an entry it might be better to watch if we break up or down from this triangle.
评论: Feeling there is some further down movement to 9200-9550 area.
评论: Sold some XRP and buying back lower at 9200
交易结束:到达止损: Bottom support broken
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@TheTrex

Thank you for your TA. I'm still learning, and am trying to understand your moves.
I don't quite understand why you sold to buy back lower. How are you so sure it will go down to 9200?

The bottom wicks are going higher every time for weeks and there is a 0.618 fib level around 9700. It seems to be bouncing on that level for couple of weeks now, and every time it dips below that level (bc of btc mainly) it jumps back up pretty quick
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TheTrex Nilsie1988
@Nilsie1988, Hey there. The reason why I said I will be buying lower is because it broke down from a triangle where it was bouncing in. If that happens then normally upward or downward movement is followed. On the 2H timeframe it does look like going up again and like you say there are bottom wigs. It's in this purple triangle now.
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TheTrex Nilsie1988
@Nilsie1988, So my update about 9200 at the time was not completely accurate if it will go up again from this triangle.
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Nilsie1988 TheTrex
@TheTrex,

OK, understood:)
Thanks!
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Monged TheTrex
@TheTrex, should we buy now or wait for updates ??
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Monged Monged
@Monged, it's 9700
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Can you do analysis for BTS?
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TheTrex NavjotRandhawa
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Noob here. Guys, can u explain what this guy is talking about
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RossBot k112035
@k112035, entry exit for day trading
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