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XRP / Euro

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XRPEUR trade ideas

Ripple/EUR: price to break out of "Ascending Triangle"-pattern?Pennant-pattern (see the two orange trendlines): First of all, price broke out of a "Pennant"-pattern. This resulted into a price target of EUR 1.21 Calculation: Between 12/12/2017 and 12/14/2017 price increased from roughly EUR 0.20 to EUR 0.76 The difference is 0.76-0.20=0.56 You add this difference to the price at which price broke out of the "Pennant"-pattern, which was EUR 0.65 This results into a price target of 0.65+0.56=1.21 Ascending Triangle-pattern (see the two blue trendlines): At the moment price is a the top of the "Ascending Triangle"-pattern. This pattern is a continuation pattern: price takes a breather from the previous increase. Also, the rising blue trendline indicates that even though price also decreases, the price decreases are getting smaller: price is being pushed to the upside Bearish divergence price and RSI (see the two purple lines): However, we spot a bearish divergence between price and the RSI: the price sets a higher high, but the RSI does not. This means that the higher high of the price isn't confirmed by the RSI. This indicates that the momentum is slowing down and, therefore, price increase may be halted.
Long
by Commandeur
XRPEUR Short Breakout ConfirmationMy first post anywhere related to trading as I'm really here to learn but I have been following this chart for the last day on the 4hr and 1hr time-frames to see which way it will break. Triangular patter was drawn in the wee hours before the break. Stoch-RSI, RSI and CCI all show overbought on the day frame so very likely to have some strength on the way down. The last two bars have both closed and opened lower after breaking the trendline so could be a good short down to the 0.618 or 0.5 Fib line. Btw I bought in Ripple at 0.17 and my plan is to buy back after this move bottoms out and signals upward again. Would appreciate any thoughts on this.
by coreytrades