XRP short zone
Quick swing trade I am be playing. The amount is small and leveraged with a stop loss as it has a reasonable chance of failing and failing quickly. Top buyers from previous pump are either still trapped or sold at a loss. The coloured zones are levels of sell pressure where trapped buyers either escape (A) or where market makers exit the stressed/liquidated counter positions.
The major issue with this position is that the price range above dark red has basically no sell pressure other than profit taking so use dark red as a stop loss to escape destruction.
The major issue with this position is that the price range above dark red has basically no sell pressure other than profit taking so use dark red as a stop loss to escape destruction.
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