Hello All,
Ripple is ranging in the parallel channel as part of a bearish flag - perfect for identifying the short/long flips.
However as we approach the horizontal resistance @ $0.18 - it's very important to understand that shorts are massively in favour here.
I see possibly one more surge up, repeating the previous fractal in which it's best to then scale into a short. Of course if we have a bullish break above the resistance then it indicates a long, however I do not see this to be plausible.
Why? XRP USD is evidently pegged to BTC.
Please see my post below & READ the FA on why Bitcoin is going to melt today.
The question is whether the fractal is complete before the drop, will monitor and set alerts accordingly.
Yours Sincerely,
Anon.
Ripple is ranging in the parallel channel as part of a bearish flag - perfect for identifying the short/long flips.
However as we approach the horizontal resistance @ $0.18 - it's very important to understand that shorts are massively in favour here.
I see possibly one more surge up, repeating the previous fractal in which it's best to then scale into a short. Of course if we have a bullish break above the resistance then it indicates a long, however I do not see this to be plausible.
Why? XRP USD is evidently pegged to BTC.
Please see my post below & READ the FA on why Bitcoin is going to melt today.
The question is whether the fractal is complete before the drop, will monitor and set alerts accordingly.
Yours Sincerely,
Anon.
Comment:
Pinged off 1st short entry, I have scaled in
Comment:
Pinged off 2nd short entrance. Fully scaled in. Best of luck to those who have tailed.
Comment:
Half way there - riding XRP short till Sunday and will reassess. Will also provide an update accordingly.