Ripple - Update on Buy Opportunities

Following the analysis that enabled us to close the year with one of the most amazing trades we have seen in recent times (, BITSTAMP:XRPUSD has then gone for a deep and solid correction, similarly to all other major cryptocurrencies.

However, since we are not in the business of just "buying and holding", we love corrections, as they are simply the confirmation of another coming trade in the direction of the trend: we can monitor them and be alert for when they are over, ready for the next trade.

As is stands now, the correction in Ripple could be coming to an end. In detail, on the 4hr timeframe, we can see that the pair had what seems to be a small impulse to the upside, followed by a very long however not so deep correction. As said correction is building up divergence, on the minor timeframes, if it breaks to the upside, we will have a decent trade opportunity.
However, we also believe that this coming impulse to the upside might be short lived, as there is a chance, in the bigger picture, that the aforementioned impulse that we are expecting is in reality itself part of a bigger flat correction for more downside.

However, given the potential extension of the coming upswing and it's profit potential all buy break setups on Ripple, from now on, are not to be missed.

In relation to cryptocurrencies, let us remind all traders that any attempt of forecasting based on wave and structural analysis has to be taken in a very conservative manner, as these financial instruments could not have been traded in the markets for a long enough time to consolidate their structure and make a valid projection possible.

If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.

Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).

Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.

Thank you for viewing.
What's the indicator you're using at the bottom of the screen?
TradingClear tradeformula
@tradeformula, Hello there. We are using a MACD4C divergence indicator, as a complementary tool to confirm the right timing of certain patterns. Thank you for viewing.
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