XRP going DOWN. Be cautious....
Hi Folks,
As trading is doing a lot of research I have stepped in to candlestick trading combined with western technical analysing tools. I find this really satisfying.
You can see for example the Bearish Engulfing pattern in this XRP/USDT chart how reliable it acts. Where I put the blue flags are CONFIRMED Bearish Engulfing patterns.
Be aware of the recent candle how it will form itself. there is still a high possibility becoming a bearish engulfing pattern and I will bet my money for more downwards action.
When you look at the RSI indicator you see rising highs but the price is declining... that means DIVERGENCE... be cautious that is a sign of a possible reversal combine it with the candles ..... ;)
That doesn't mean that it will DEFINITELY go down.. no. it is wrong until proven guilty.. but there is a good chance/high probability.
1st support level around $0.55000/$0.55500.- if it doesn't hold $0.54000/$0.54500.- if this level breaks we can go down in to the marked zone (somewhere in that whole range).
If these levels hold resistance is at $0.59/$0.60....
I am interested in buying when it hits the 1st support.. because then I have a risk reward of 1 to 4.. I like that..
Hit the like if you like it and follow for more action to come..
Together we can become rich!
Twitter; MoneyMakingMuro
As trading is doing a lot of research I have stepped in to candlestick trading combined with western technical analysing tools. I find this really satisfying.
You can see for example the Bearish Engulfing pattern in this XRP/USDT chart how reliable it acts. Where I put the blue flags are CONFIRMED Bearish Engulfing patterns.
Be aware of the recent candle how it will form itself. there is still a high possibility becoming a bearish engulfing pattern and I will bet my money for more downwards action.
When you look at the RSI indicator you see rising highs but the price is declining... that means DIVERGENCE... be cautious that is a sign of a possible reversal combine it with the candles ..... ;)
That doesn't mean that it will DEFINITELY go down.. no. it is wrong until proven guilty.. but there is a good chance/high probability.
1st support level around $0.55000/$0.55500.- if it doesn't hold $0.54000/$0.54500.- if this level breaks we can go down in to the marked zone (somewhere in that whole range).
If these levels hold resistance is at $0.59/$0.60....
I am interested in buying when it hits the 1st support.. because then I have a risk reward of 1 to 4.. I like that..
Hit the like if you like it and follow for more action to come..
Together we can become rich!
Twitter; MoneyMakingMuro
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