RIPPLE (XRP/USD) - Do Not FOMO, Wait For Opportunities!
Currently, the price is on the pretty strong resistance area (orange lines) and soon there is also an important trendline which should act as a resistance level. If you are a short-term or mid-term trader and if you want to buy it right now, then I have to say - do buy it on the tip and do buy it near the strong resistance is definitely a mistake, we need to wait for technically decent entry areas.
First one is around $0.35-38. This area has worked pretty heavily as a resistance level and if the market is healthy then it should be a classical role reversal situation - an old resistance becomes support.
The second one is a bit higher but that's not a problem, because technically it is a great buy opportunity! We need a breakout confirmations to be more sure and secure about the next legs upwards.
Wait for a break above the strong resistances (orange lines), wait for a breakout above the trendline and then wait for a trendline retest entry opportunity. "Wait, wait, wait", yes, you should wait for those, remember to be patient!!
"1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique."
– Mark Douglas
Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You!
Have a nice day,
Cheers!
*This information is mostly used for educational purposes only!
First one is around $0.35-38. This area has worked pretty heavily as a resistance level and if the market is healthy then it should be a classical role reversal situation - an old resistance becomes support.
The second one is a bit higher but that's not a problem, because technically it is a great buy opportunity! We need a breakout confirmations to be more sure and secure about the next legs upwards.
Wait for a break above the strong resistances (orange lines), wait for a breakout above the trendline and then wait for a trendline retest entry opportunity. "Wait, wait, wait", yes, you should wait for those, remember to be patient!!
"1. Anything can happen.
2. You don’t need to know what is going to happen next in order to make money.
3. There is a random distribution between wins and losses for any given set of variables that
define an edge.
4. An edge is nothing more than an indication of a higher probability of one thing happening
over another.
5. Every moment in the market is unique."
– Mark Douglas
Feel free to support my idea post by hitting the "LIKE" button, it is my only fee from You!
Have a nice day,
Cheers!
*This information is mostly used for educational purposes only!
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