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XRPto50dollars

Charts - How To's

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oh i see. youre looking at Last Trades on the left. that column shows all trades. Buys and Sells.

Are you familiair with Bid/Ask spread?

good video: https://www.investopedia.com/terms/b/bid-askspread.asp

the bid-ask spread is the difference between the highest price  a buyer will pay for an asset and the lowest price tat a seller will sell it for

Look at the bottom , middle where it says Bid Ask. you want to see those red numbers being eaten up and disappear. when they poof and disappear that means someone was willing to buy XRP at the price which just dissappeared. if you scroll down on that list, youll see how much has to dissapear for the next higher price to hit on the chart. Right now, there is a wall up to $1.71. let me know if this answered anything haha

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You have to understand that the red sell limits on the trade window (bottom right) will actually show as green completed trades on the right side window. But yes, for every sell there has to be a buy. You do see buy and sell orders disappearing however they could also be cancelled orders.

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1 minute ago, DD_XRP said:

I understand, but I don't get why they are red and green on the left. Is it just a buy and a sell? But then again, every buy is a sell and vice versa :D

The left window just displays all the completed buy and sell orders. It's just like a transaction history window. Cancelled orders will not be displayed there. Apologies if i'm misunderstanding your question.

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1 minute ago, cuber said:

The left window just displays all the completed buy and sell orders. It's just like a transaction history window. Cancelled orders will not be displayed there. Apologies if i'm misunderstanding your question.

No it's ok, you understood I think. And I think there's nothing to ask anyhow :D

I sometimes think too much ;)

Just now, cuber said:

Nice upwards action going now right now by the way.

Yea. Was looking at it when I was looking for your explanation (have it open in another tab and is quicker then going back to the previous page. Almost forgot to respond to you :D

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2 minutes ago, DD_XRP said:

I understand, but I don't get why they are red and green on the left. Is it just a buy and a sell? But then again, every buy is a sell and vice versa :D

The BID ASK numbers in the middle / bottom are called an orderbook. updated in real time buys and sells. these are the important numbers. i dont even look at the last trades section. theyre not even always accurate. click the little 'speaker icon' to get really annoyed by the beeping and youll never look there again.

 

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15 hours ago, XRPto50dollars said:

im also looking at several other views at the same time. the below chart is the 1-minute chart. notice the red line indicating the price has stabilized around the red line.

1.png.4ac8fb91cba6eef4ef939ca474c1e355.png

What’s the easiest way to determine the stabilized price? Are there tools that show you the average price within your chosen time frame or how should you calculate it yourself?

Also it’d be great to be able to figure out where support and resistance levels are. Can you share your wisdom with us noobs?

Thanks!

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On 1/19/2018 at 2:19 PM, XRPto50dollars said:

Right now we will focus on the Heikin Chart. Its your job to research the main purpose of this chart.

[chart deleted to save space]

On the daily chart for XRP, notice we have plotted two green candles following a plethora of red. We need one more green candle to confirm a possible uptrend. With this type of chart, you look for patterns. Had people watched this chart during the dip, they would not have bought XRP starting January 8th (first red candle). The Heikin is extremely accurate and the above XRP example is spot on. In order to buy XRP, you would wait for three consecutive green candles and buy on the third or fourth day (depending on how much risk you are willing to take). Following along with this chart would have prevented new investors from buying in @ $3.

In other words, if the third candle after the two most recent green ones turns out to be red.. you start over and wait for the chart to plot another group of three green candles. Works very well, although as said above.. not 100% accurate. 

Starting to see how it works?

The explanation is crystal clear, but now I have another question.

I noticed that you're using the 1 day interval for your candles. However, I can plot the same data using intervals of 4 hours, 2 hours, 1 hour, 15 min, 5 min, etc. 

Does the same analysis apply to the other intervals? For example, if I'm day-trading and viewing 5 minute intervals, if I see three green candles in a row can I reasonably expect an uptick to continue for the next, I dunno, 15 minutes? Or is there something relevant about observing the 1-day trends?

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1 hour ago, philwynk said:

The explanation is crystal clear, but now I have another question.

I noticed that you're using the 1 day interval for your candles. However, I can plot the same data using intervals of 4 hours, 2 hours, 1 hour, 15 min, 5 min, etc. 

Does the same analysis apply to the other intervals? For example, if I'm day-trading and viewing 5 minute intervals, if I see three green candles in a row can I reasonably expect an uptick to continue for the next, I dunno, 15 minutes? Or is there something relevant about observing the 1-day trends?

Whichever interval you choose, you should stick with it. i choose the daily because its an average of the entire day. theres no point using the 4 hour chart to make a decision if you have 8 hours left in a day.. things could change.

its good to look at other intervals to see whats going on, but when it comes to investment decisions, probably best to stick to the daily until you get used to it. 

also, i dont day trade. im an investor. some say theyre the same thing; i dont. XRP shouldnt be used to flip; especially for new investors. just buy and hold.

Edited by XRPto50dollars

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Well poo.. just deleted the entire post so now i have to start over. It wont be good as the first time :dash1:

Intervals...

Everything inside the 2 blue arrows in the 4 charts are the same time frame. The purpose of intervals is to get an idea of what happened during the day.

The first chart shows the 1 day chart (every candle is one day). That green candle in the two arrows is 9 whole hours (day isnt over). Chart #4 is the same time, just expanded to one minute, every minute plotted for 9 hours. We see in #4 the day started high, dropped, stagnated, dropped, and stagnated again.

1.thumb.png.60a3ffa185fbc95e53a01e451afbc3e2.png

How is this useful? By comparing the above charts to the entire 30 minute chart below (showing 12/20 through today) we can start to plot ideas. Then by comparing that to the 1-day chart, we can begin to loosely get an idea of what may occur (but its not actual price prediction). 
Notice the orange arrow shows that although XRP dropped, it is slowly recovering.
The red line shows resistance.  Break $1.73 and that would lead to new ideas and opinions.
Everything to the right of the blue line is everything shown in the above 4 charts (mindblowing, i know).

So play around with the charts. get to know them better. the 1 day chart is best for new chartists until you get a handle on how they work.

2.thumb.png.02bf3d3ba5223554ce8fa814f335367c.png

 

 

Edited by XRPto50dollars

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Hi all, not used to post here. Quiet new. This conversation above seems to me rather important. Very informative. I felt sorry it disappeared on the smoke of all posts. ..

thank you 50dollar for the tips you gave us. 

Jp

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9 minutes ago, JOhnp said:

Hi all, not used to post here. Quiet new. This conversation above seems to me rather important. Very informative. I felt sorry it disappeared on the smoke of all posts. ..

thank you 50dollar for the tips you gave us. 

Jp

yep! glad you like it. 

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