I started on the 15-minute chart for XRP. Then I started zooming out... first the 30 minute, then 45, 60, 4-hour, and at last the 1-day chart. When I pulled up the one-day chart, I noticed that I had not extended the parallel trading channel limits for quite some time. So I extended the channel to include all of the recent week's action, and when I looked at the chart I literally said out loud, "OH MY GOD!".
What made me gasp, you ask?
It's the most recent rather doji-looking candle that touched the top of the trading channel and pulled back!
Anything is possible, but it looks to me like we are headed to the bottom of the parallel trading channel. I think the mini-bull-run party is over. Last night I sold my ENTIRE position, because I was spooked about the run to 0.205 ending with a red candle on the 1-hour chart. It moved to 0.19 after I sold my forty-five-cents-per-token XRP bag. What was I thinking? Sell now and buy back at the bottom.
Well I woke up this morning, and to my dismay, the price moved up again and I think it was 0.21 or just shy of it. So I figured I had been "faked out" by the recent movement. I resigned myself to the whole situation, and went on about my day. Now I am sitting in my office at 2:20PM Central standard time, and decided to pull up the chart, and that's when I discovered what I described above.
This is NOT financial advice. It's entertainment only. And I'm just a stupid "month trader" trying to make up for imaginary "losses" and get as much XRP as I can. If this thing sails back down to a dime, or less, I'm going to buy back in and try to gain ground from what I lost buying at that peak of 0.45 way back when (that was the THIRD time in history that I bought XRP right before it took a nosedive! haha).
I'm playing around with the last bit of my "fun money", and I have very little funds in the market with other projects. When I say very little, I mean VERY LITTLE. There's about $14 worth on Coinbase, and then I have my itty bitty $308 bag of former-XRP-turned-USD-funds that is waiting to become XRP again.
I hope I made the right move. I should probably have left this alone and waited for the long-haul. But I'm greedy, and I want to do a little "month trading" and shoot the dice a little at the craps table and see what I get! Again, please do not do anything stupid like me, because I am NOT a professional trader. Engineering is actually my real profession.
Carlton Flowers
The Highly Technical CryptoPro
p.s. Full XRP video analysis coming soon
What made me gasp, you ask?
It's the most recent rather doji-looking candle that touched the top of the trading channel and pulled back!
Anything is possible, but it looks to me like we are headed to the bottom of the parallel trading channel. I think the mini-bull-run party is over. Last night I sold my ENTIRE position, because I was spooked about the run to 0.205 ending with a red candle on the 1-hour chart. It moved to 0.19 after I sold my forty-five-cents-per-token XRP bag. What was I thinking? Sell now and buy back at the bottom.
Well I woke up this morning, and to my dismay, the price moved up again and I think it was 0.21 or just shy of it. So I figured I had been "faked out" by the recent movement. I resigned myself to the whole situation, and went on about my day. Now I am sitting in my office at 2:20PM Central standard time, and decided to pull up the chart, and that's when I discovered what I described above.
This is NOT financial advice. It's entertainment only. And I'm just a stupid "month trader" trying to make up for imaginary "losses" and get as much XRP as I can. If this thing sails back down to a dime, or less, I'm going to buy back in and try to gain ground from what I lost buying at that peak of 0.45 way back when (that was the THIRD time in history that I bought XRP right before it took a nosedive! haha).
I'm playing around with the last bit of my "fun money", and I have very little funds in the market with other projects. When I say very little, I mean VERY LITTLE. There's about $14 worth on Coinbase, and then I have my itty bitty $308 bag of former-XRP-turned-USD-funds that is waiting to become XRP again.
I hope I made the right move. I should probably have left this alone and waited for the long-haul. But I'm greedy, and I want to do a little "month trading" and shoot the dice a little at the craps table and see what I get! Again, please do not do anything stupid like me, because I am NOT a professional trader. Engineering is actually my real profession.
Carlton Flowers
The Highly Technical CryptoPro
p.s. Full XRP video analysis coming soon
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.
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.