Ripple Mid-term Trading Setup
Updated
Ripple recently has broken above the yellow long-term trendline and retested.
It would have been a nice place to enter long when it was retested around $0.37.
For those who entered long, I would hold it more until it reaches the green trendline which I have determined as TP1. If it breaks below, I would either close my position and re-enter at EP2 (around 0.25~0.26), or I would accumulate more at EP2.
Short EP (around 0.92~0.97) was derived by 1:1 fib extending the recent sub-wave, which happens to be near 0.236 fib retracement level.
It would have been a nice place to enter long when it was retested around $0.37.
For those who entered long, I would hold it more until it reaches the green trendline which I have determined as TP1. If it breaks below, I would either close my position and re-enter at EP2 (around 0.25~0.26), or I would accumulate more at EP2.
Short EP (around 0.92~0.97) was derived by 1:1 fib extending the recent sub-wave, which happens to be near 0.236 fib retracement level.
Note
TP1 reached.
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