XRP Continues To Deliver Profits [Second Iteration]

XRP is clearly bullish over the last week. The uptrend is likely to continue as all cryptocoins are rising and rising.

However, the difficult part is always to determine a great entry position as in this case of a short you wouldn't want to buy too low.

I will continue this idea, after an incredibly successful trade last time:

We can keep using the parallel channel to get a few more good trades in. After the confirmation on this resistance, we can now switch to a short position.

The simple "buy low, sell high" concept is deceivingly difficult. For a short, obviously we have to turn this around.

In this trade set-up I show that in an upwards trending parallel channel, a retracement to the support line can be a great place to buy.

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- Trading Guru

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Disclaimer!
This post does not provide financial advice. It is for educational purposes only!