XRPUSD FORGET A GOLDEN CROSS, TAKE A CLOSER LOOK AT THE CHART.Over the last few days there has been a lot of hype about a "golden cross" and now a "cup and handle". While these indicators do exist in the world of TA, they are not used as much as people think they are. Looking at pure price action and retracement levels, you can see a clear breakdown of what is happening. On a larger scale, price has held the 61.8 level while at the same time holding intraday 61.8 level again. I remember using the "Golden Cross" indicator around 7 years ago and soon realized that it is not an end all be all technical indicator as well as MACDs or RSIs and even cups of tea with handles. Focus on price action and not silly indicators to get a closer look at what price is telling you. I am still BULLISH on XRP. Let's keep all the silly $5 price predictions overnight down a bit yea?Cheers!
Technicalanalysisexplained
Down under getting further down under AUDUSD THE analysisLong term outlook very bleak for the once relatively strong AUD.
It's been a tough two years on the Australian currency. With a very wobbly gold price dictating the nerves and a phenomenally crucial period of USD relative strength the AUD is suffering without a doubt.
Using a simple fib based regression trend analysis along with a modified pitchfork that ties into the fib I predict a lowering of price here over the course of the next few days and weeks.
Entry can be taken now but ideally I would suggest let it pop up just a bit further before taking it on for SHORT positions.
As for leverage, margin, size and duration I leave that all to you my trading buddy :)
Best of luck and stay safe. It's a dangerous place to be falling without a parachute ;)
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