Keep it simple!
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
So far XRP has tested our first entry zone and held at the green box. XRP has also made a higher low, suggesting that this support will hold for now. However, I wouldn't be surprised to see a wick through the green box forming a lower low before making new highs. If XRP doesn't hold the 2500's Sat range then I see XRP to come down to the lower green box. This is a trend many ALTS are currently doing, as these lows are an untested support range. Laddering longs at the low green box with a stop below the lowest wick would not be a bad move.
For those who entered in the first green box, you should have taken profit, and those waiting for a long entry, I would ladder longs at the bottom of the first green box with a tight stop. Be prepared for further dump if the range doesn't hold.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price
Green box is where you buy, Orange box is where you take profit. At each profit target I take out 20% of my initial trade.
So far XRP has tested our first entry zone and held at the green box. XRP has also made a higher low, suggesting that this support will hold for now. However, I wouldn't be surprised to see a wick through the green box forming a lower low before making new highs. If XRP doesn't hold the 2500's Sat range then I see XRP to come down to the lower green box. This is a trend many ALTS are currently doing, as these lows are an untested support range. Laddering longs at the low green box with a stop below the lowest wick would not be a bad move.
For those who entered in the first green box, you should have taken profit, and those waiting for a long entry, I would ladder longs at the bottom of the first green box with a tight stop. Be prepared for further dump if the range doesn't hold.
It is key to note that the boxes are a range - therefore I ladder into my trades, which gives me a better entry and exit price
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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.
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.