Jump to content
Guest

XRP TA

Recommended Posts

Gee I hope you guys are wrong.  If price goes up then falls thirty percent a number of times over a period then you can build some confidence that a significant rise is worth at the least a half of the rise.

But if price comes down massively after rises it basically robs confidence. 

Share this post


Link to post
Share on other sites
Guest
3 minutes ago, Tinyaccount said:

But if price comes down massively after rises it basically robs confidence. 

Don't worry bro it's like gambling for most people.  You could say continually losing at poker/roulette/bookies should be enough to rob confidence but it never does and never will.  The "investors" with the gambling mentality won't admit their losses, they'll blame the cards, the markets, the horses but never themselves.  In their opinion Ripple hasn't gone from $3.25 to $2 because it was massively oversold, it's gone from $3.25 to $2 because "the market doesn't like them".

Don't worry about the drop in price, these guys will always be back again to place another bet once they have forgot what happened last time they had a shot.

The hodlers win, the astute traders win, the other 90%....not so much.

Share this post


Link to post
Share on other sites
24 minutes ago, Tinyaccount said:

Gee I hope you guys are wrong.  If price goes up then falls thirty percent a number of times over a period then you can build some confidence that a significant rise is worth at the least a half of the rise.

But if price comes down massively after rises it basically robs confidence. 

I hope that I am wrong as well :) 

Its very hard for the new buyers when the price goes down... Specially if its their first Crypto investment... But yes as @CaligulazBaby said: "The hodlers win, the astute traders win, the other 90%....not so much. "

Share this post


Link to post
Share on other sites
Guest
1 hour ago, Javim777 said:

Imho the bears are in control now. We will probably see 1,6$ and thereafter 1,25$ zone. 

I think if we blast through 1.5-1.6 we're probably heading down to $1.

Share this post


Link to post
Share on other sites
Guest

The bulls seem to have taken charge...or the whales have decided to move the market up.  The "big 3" all simultaneously broke out of their individual long term down trendlines with Bitcoin breaching first and hardest so I guess we're moving with the market leader again.  Assuming this isn't a false breakout xrp will probably follow the trendline from bottom left to top right for a few bounces. 

I'll wait 45 minutes until the next complete 1H candle and make a chart before bed.

5a595d7627962_btcusdmain.thumb.png.5882bc6219321c9b86c0e6ffb28b29b6.png

5a595d7d7875b_ethusdmain.thumb.png.1c2ffc1048df727ade0d690a5eebc5db.png

5a595d800abaf_xrpusdmain.thumb.png.7258cca0aa81270462d0bda0110f5893.png

Share this post


Link to post
Share on other sites
Guest

Breakout plus a new candlestick fully exposed above the trendline on the 1H.  It will be interesting to see if the new trend line from bottom left to top right will act as support or not.  I guess if the whales really do control the market and are shaking out weak hands during down trends then I suppose they will sell enough to drop back below $2?

5a59685f6d428_xrp1H.thumb.png.bcbd633990c7a500824cfdc0a775c96a.png

 

Anyhoo here is my short term 1D chart...

5a59686389c5d_xrpusd1D.thumb.png.5eed25616cf9ba53f4991580008a1653.png

...and my long term 1D chart for the rest of 2018!

5a5968657888c_xrphappynewyear.thumb.png.e3b69cfa97ef672fc118c413b2ee4eef.png

 

I don't have the patience to include the 6 months of $3-5 sideways action between June-Dec....

Share this post


Link to post
Share on other sites
37 minutes ago, CaligulazBaby said:

don't have the patience to include the 6 months of $3-5 sideways action between June-Dec....

:) 

Yeah I'm not sure I will have the patience to last through it...     :) 

Edit:.   Forgot to also say thnaks...  I'm not sure I really understand or believe TA fully...   But it's very interesting and I'm glad you share it here.  Thanks.

Edited by Tinyaccount

Share this post


Link to post
Share on other sites
Guest
10 hours ago, Tinyaccount said:

I'm not sure I really understand or believe TA fully...   But it's very interesting and I'm glad you share it here.  Thanks.

I am fully convinced TA is real but agree whales are manipulating the market.  The thing is....to manipulate the market they will use TA because most "day-traders" are basing their easily manipulated stop losses and take profit points around the TA trend lines, support and resistance lines etc.

Allow me to use a poker analogy.

Without going into specifics because we will be here all day, if a beginner sits with me long enough on a poker table then there is literally nothing they can do to stop me taking their money.  Same as whales with trading, but why is that?

99% of the time a beginner poker player will either bet too much, call too much or fold too much.  There are 1,326 starting hands in poker and by the time we get to the river I will know roughly what % of those hands my fish has left and how to exploit that (assuming I haven't already exploited some other weakness preflop, flop or turn).

Poker hasn't been solved yet so nobody knows what the perfect play is but GTO software is getting more advanced and the best players in the world are slowly converging on GTO perfect play.  The weaker the player, the further they are from this currently unknown GTO perfect play.

Tic-tac-toe has been solved and there is the GTO perfect play for every spot in every game and any deviation from that can be exploited and this concept can be applied to more complicated games such as chess/poker/trading.

So how does this difference in poker skill relate to whales manipulating the market?

Whales have 2 HUGE advantages.  Their understanding of market psychology/movements/TA etc and the size of their stack.  In the same way a beginner poker player will bet/call/fold too much, a beginner trader will stop loss in the wrong spot, take profit in the wrong spot if they don't understand what's happening in the market well enough.  The whale's 2nd advantage of stack size allows them to control these swings tricking the beginner trader into making sub-optimal GTO market choices.  At the moment the cryptos are a dream come true for these whales.  Unregulated market full of idiots who have no idea what they're doing except possessing a dollar and a dream.

To manipulate the market there has to be TA.  It has to exist for whales to make this manipulation.  TA has been around for over 100 years and there are countless books which all agree uptrends, downtrends etc all exist and in the hands of an experienced professional in highly liquid markets like forex, can be used to predict >50% where the market will move next.

This is why TA is just a hobby for me.  I have a few books and that's about it, my chart making is immature (at best) and my knowledge of TA is the same but my ability to admit that to myself and choose to HODL my xrps instead is a strength.  Immature traders in crypto atm are going to get eaten alive and there is literally not a single thing they can do about it.

Edited by CaligulazBaby

Share this post


Link to post
Share on other sites

It's funny, I have looked at many indicators and candle patterns etc over the years but have never found a 'system' that resonates with me and is profitable long-term. That is until recently when I started researching Weis Wave theory and thus far it seems to produce good results (on paper). I think part of that is because it doesn't give you buy/sell signals as such, you still have to read the chart. For me this is important as you have to be fully engaged in the process and can't execute passively. I still have a lot more learning to do but the journey is just as exciting as the result.

Share this post


Link to post
Share on other sites
Guest
2 hours ago, CaligulazBaby said:

This is why TA is just a hobby for me.  I have a few books and that's about it, my chart making is immature (at best) and my knowledge of TA is the same but my ability to admit that to myself and choose to HODL my xrps instead is a strength.  Immature traders in crypto atm are going to get eaten alive and there is literally not a single thing they can do about it.

Well said, and in the end it is the only thing the whales cannot exploit.

A good usage case based coin, solid corporate leadership with an outgoing implementation strategy coupled with the personal strength to HODL will produce a win.

Share this post


Link to post
Share on other sites
Guest
48 minutes ago, sjmusic3 said:

I started researching Weis Wave theory and thus far it seems to produce good results

I'm in the middle of a book atm but I'll look into that after.

Share this post


Link to post
Share on other sites
30 minutes ago, CaligulazBaby said:

I'm in the middle of a book atm but I'll look into that after.

Best version I have found for Trading View is Weis Wave Jayy script. It is locked, but if you message the author he will unlock for you - he seems like a real nice guy and will answer any questions you have too.

Share this post


Link to post
Share on other sites

I tried trading for a while and I just wasn't making any real significant headway. I suppose I should be happy that I gained anything but at a certain point I was just spinning my wheels. Any profits we're mostly absorbed by fees from switching back and forth between coins. So I made the decision to go with xrp based on what I see as a solid business plan with vision and long-term gains....and above all else  I hold. In the meantime , I can watch the circus unfold on an hourly basis and read "wtf" thread after "wtf" thread of ****** off traders lamenting their decisions. For now I watch , read , learn , , buy and hold.

Edited by Trendkill

Share this post


Link to post
Share on other sites
Guest
3 hours ago, sjmusic3 said:

Best version I have found for Trading View is Weis Wave Jayy script. It is locked, but if you message the author he will unlock for you - he seems like a real nice guy and will answer any questions you have too.

Cheers bud, I'll message him in due course.

Share this post


Link to post
Share on other sites

×
×
  • Create New...