XRP - Potential 4.5% Short Trade

Jan 21, 2019

XRPBTC seems to be about to make a move - just like many other ALT coins.

As seen on the chart, it is currently between strong levels of Daily Support and Resistance and follows the green Trend Line .

Recently, we had a Doji candle, followed by a Bullish Hammer ( ish ) and a sideways trend break.

Even though candles are not sufficient to make a decision, they occurred at a support level which:

a) Doji - Shows that the market is indecisive - possible trend reversal

b) Hammer - Shows that buyers are stronger than sellers and are refusing to let the support break.

This is a 2:1 Risk to Reward ratio.

Stop loss should be set below the support - where exactly depends on your risk appetite.

Hope that works out for you!

Jan 23, 2019

Trade closed manually

Hello everyone,

We had a little push, however not strong enough to hold the support.

Since support has been broken, it will now likely become resistance.

I would exit this trade now before hitting the stop loss.