After the storm !
XRP suffered like hell, hated by many, but it just looks like it finished ABCDE correction, this is a plot of what is possible in the near future. This time we are already IN, as we got stoped by our trailing stop shorting it, on another idea; we just reversed the position to LONG ! We expected lot of resistence on the 0.236 Fibo with traps and all of today market warfare so we just get IN early so if it revert back to Short we are still on profit. The natural entry level is on 0.236 Fibo but as I said it will be a nightmare entry point and target on 0.736 Fibo. Timming is always trick, I always try to estimate it based on history behavior. We also have a trailing stop to get us out on loss or profit !
Note
We just hit the 0.236 Fibo with time and price accuracy:Note
Expecting a second shot at the Fibo resistence where more battle than just straight repulse must happen if it is really going to fully revert, if nothing happens and goes straight bearish we will just resume our previous operation of shorting:Note
XRP must decide soon to breakout or renew its so far weak strength:Trade closed manually
Trade closed, XRP got weak and was too close to our entry point, I prefer to just exit with a minor profit !
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.