The PSAR is extrapolated to show its activity against the candles. Each purple line demonstrates the reduction of PSAR to the XRP candles and terminates on each day for the next several days.
Think as the PSAR as a fishing event...It is either chasing the bait (Which it has done here), catch the fish (its about to do) and taking line out (once it crosses over). There is a 7 cent spread until the fish is caught at this moment.
The Bollinger shows that XRP is flat in the lower half of the band. This could mean more downside. However, there is a subtle movement away from the band which could also mean an uptick is imminent.
The Gold line is the 50 MA...and is resistance. Think of this as being the waterline...Fish do not want to come out! (XRP candles) Notice what happens when the fish crosses the waterline.
Fish (XRP) are getting hungry and they are under the wateline with occasional jumping out of the water and fishermen are anxious!!!!!
MACD is getting seeker and now I just have to put in time in the water.
I am actively fishing right now.
Think as the PSAR as a fishing event...It is either chasing the bait (Which it has done here), catch the fish (its about to do) and taking line out (once it crosses over). There is a 7 cent spread until the fish is caught at this moment.
The Bollinger shows that XRP is flat in the lower half of the band. This could mean more downside. However, there is a subtle movement away from the band which could also mean an uptick is imminent.
The Gold line is the 50 MA...and is resistance. Think of this as being the waterline...Fish do not want to come out! (XRP candles) Notice what happens when the fish crosses the waterline.
Fish (XRP) are getting hungry and they are under the wateline with occasional jumping out of the water and fishermen are anxious!!!!!
MACD is getting seeker and now I just have to put in time in the water.
I am actively fishing right now.
Note
MACD statement should read as "getting weaker"Note
Dear All,In the lower hourly values the PSAR is indicating an upward direction. However, the Daily is still showing down. At 0000UTC the Daily PSAR will lower about .07cents USD. Therefore, the Spread between Candle and PSAR will narrow to an area that can cause a transition on the Daily to UP.
The MACD is will also show signs of weakening. There is now an Inside Day Candle Signal too and this can be interpreted to mean a sudden change in direction is at hand.
I am currently running much analysis at all levels to develop a better sense of Direction.
Clearly, news announcements to Ripple that have occurred over the last 24 hours are not influencing price action and the BTC influence on the big markets is affecting nearly all cryptos.
More info later tonight. I am in the trade at this point with stop loss now elevated to 1.25 versus 1.19 as previously mentioned. I decided to tighten this up.
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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.