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XRP Roundup - Why I am buying


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On 7/15/2019 at 12:32 AM, Staigera said:

I'm not at all  at capitulation level despite I invested huge amounts of money in this black hole. I have been husseling and grinding threw out the year and almost gained my investment back. Instead of being here talking about this nonsense 24/7.

Me and plenty of other bro's here are tired of ppl talking like they can predict the future or think they know which way xrp is going price wise.

I have seen it so many times that it became fcking irritating. To see ppl like you defend their presious investment thinking it's a closed deal with their " it's a long term investment bla bla bla.

Man get the hell out of here everyone thought we would be around atleast 1 $ by now xrp is just garbage.

If I invested what I did in xrp around 50 cents in btc around that time at 5k I would have made around  $120k profit. But like I said I'm not dependent on this crypto **** I'm getting my wealth from getting my sh!t together in real life. It's just frustrating to see that all that money was wasted on this garbage asset. Now it's just waiting to see if there will be a rise or that it's just a sinking ship.

 

Great post, we need more like it. Good job speaking up.  

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Fill up that hopium pipe, here's my stress free run down of where we are at: Charts : We look to be heading down to the long term bear reversal line, which I peg at around 43c AUD, this is concer

And what if after the sec and all the other legal stuff has been sorted out and we still don't move in price. What's the next hopium sentence then? Oh don't worry it needs time for liquidity to flow.

So you believe in the asset enough to stay in it, and assume you are the only one "husseling"(sic). You have no idea about my investments or dollar cost average. You seem angry at your investment of t

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5 minutes ago, Geospectrum said:

This is a post of mine from the future.

 

XRP? What XRP? Oh yes, I’d forgotten about those. I decided to hodle five years ago when Trump was in power. I’m glad I did. Lambo arrives tomorrow.

“Forgot about them from five years ago”...that sounds like a good strategy for many speculators here. The day-to-day expectation of value rise is taking its toll on people. This is an exercise in delayed gratification.

Remember to make sure you have a decent neighborhood first for your Lambo. 😃

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On 7/15/2019 at 7:18 PM, bryce said:

No offence taken Donoizzy, let me try and clarify. I understand the language when taken out of context would appear vague.

The full sentence was We look to be heading down to the long term bear reversal line, which I peg at around 43c AUD, this is concerning, but not surprising. We should see a strong bounce here, or a dip under then back up. I am buying.

What this means : We are approaching a level of support that is long term, and is respected by the market (bots, day traders, TAs) and therefore we will see a reaction at that point. A strong bounce means we touch that support line and bounce of, as happened, I bought as I planned and made 5% within a a few hours.

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The reference to the "dip back under than back up" is when the sell pressure pushes down through that long term support, an over reaction, then it pulls back up to respect the long term trend, the same outcome of support, but the buying opportunity is better, if you willing to "catch the falling knife". I explained the scenario in which would would dip back under is relative to the BTC sell off, which brings us to the next sentence.

Correlating with the BTC/USD chart, we are at a decision point with BTC, will we push up through this chop zone, or pull back. I am betting on BTC pulling back to 9k USD before it runs again. This will drag XRP down, likely below the long term support momentarily. This is where I will buy, hopefully around 36-38c AUD.

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The Chop Zone here refers to when the market is going back and forth with indecision about pushing up to the next resistance level. You can see the run up to this price range was all green, no indecision or resistance, then it reached a slower point, breaking the parabolic trend. This is an indicator that the market does not necessarily have the momentum to go through this point.

BTC was at 11200 USD when I posted, it pulled back to under 10K since then and bounced back up again. So this sell off was anticipated, but the depth of it is unknown. I added this BTC reference chart to indicate, if the sell off continues to 9K (which I still think is a possibility) then the reaction in the XRP chart will be to fall under the support line of 43c AUD and then bounce back up to observe the long term trend.

I understand that those sentences out of context seem like a win win, but I was quite specific in the target buy range, which I executed and made profit on, and that BTC would pull back considerably. Both of these outcomes played out. The general message here was : 43c AUD is a strong support, I would be safe buying at or under this point knowing that the general support line is in play for nearly 1 year and it should return there and above.

Now this is all is fairly educated decisions which can be over ridden by fundamentals and market news like Coinbase, Exchange Hacking, change in rulings, the infamous Chinese New Year haha etc etc. That's the bit I think people miss, always watch the fundamentals too, that's what make things unpredictable compared to the day to day trading which the bots run through. TA is great when the market is plodding along, but some external factor can destroy it through a pump or dump. That is fine, understand what it's good for, and watch closely.

Also, I would like to point out we just had the US goverment make a statement about regulation, Moneygram and SEC progress, being very specific about Ripple, read more here: https://thexrpdaily.com/index.php/2019/07/15/brad-garlinghouse-personally-speaks-to-mnuchin-press-conference-is-trending/

I don't just use TA to make decisions, there is the fundamentals aspect of this too, which I am following closely and provided commentary. But to disregard TA I think is insanity, every trading bot is programmed on past market behaviour, which is price action. This is the reason Fib Retracements and support/resistance trends work, because the majority of trading is done by bots respecting those patterns.

TA is good for understanding short term price actions for sell and entry points, and knowing when breakouts are going to occur. Longer term, it is good for knowing if we are in a bull or bear situation, which was the intention of my original post, to show the long term support line and see that we are going up, even if it feels like we are going down.

I think the general "TA is stupid, I hate charts" mentality is ridiculous. Both @Staigera and @Xrpforme called out my post as "stupid" because it had TA in it, and is invalid. This is such a blind, regurgitated attitude by people who do not understand it, and where it should be applied. There is no way an investor with your retirement funds, a stock broker, a crypto trader does not look at past price action to make decisions, other wise it's literally a "buy here, I wonder if it goes up". Over and over again TA has helped me make better decisions on when to buy and when to sell.

I understand TA very well. It can be a helpful tool in liquid markets. Crypto is manipulated by a few and if TA does apply then whales are using it their advantage to suck more people in to either a pump or dump scenario. 

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17 hours ago, Xrpforme said:

I understand TA very well. It can be a helpful tool in liquid markets. Crypto is manipulated by a few and if TA does apply then whales are using it their advantage to suck more people in to either a pump or dump scenario. 

In a way, TA seems like a perfect tool to manipulate people's trading expectations to trick them and lead them to and fro. But at some point I hope the intervention of real-world usage spanks some of these big players good ;)

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