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Molten

Charting the course of XRP

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15 minutes ago, Molten said:

The channel has currently been breached to the downside.  If the daily candle closes below, I would have to believe this is a sign of further losses to come.  The news out of SWELL was excellent; new corridors, new partners, ODL just starting to get ramped up.

If we don't bounce back today, I would say short term bearish, long term uber bullish.  I don't trade XRP, so if we dip from here, I'm just along for the ride.  May pick up more if it drops substantially.

OTOH, you could make the argument that the purple line is the true line to hold, in which case we are just peachy. :spinlol:

1xqA3MMK

Thanks for the insight. It’ll be interesting to see how today and tomorrow shape up for sure.

I’d say, for anyone thinking of buying in, that you should wait a week or so to see if there is a draw down. 

I’m still  trying to decide how I think this year will end for the entire market.

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Told you guys. .15 is coming it might be slow but it's coming. Swell couldn't break .32 it's going down don't expect a bull run for at least another 5 months.

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29 minutes ago, Shani said:

Told you guys. .15 is coming it might be slow but it's coming. Swell couldn't break .32 it's going down don't expect a bull run for at least another 5 months.

Don’t think anyone noticed tbh. 

Edited by MaxMad

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32 minutes ago, Shani said:

Told you guys. .15 is coming it might be slow but it's coming. Swell couldn't break .32 it's going down don't expect a bull run for at least another 5 months.

What is your experience in the crypto market or the stock market? How long you been a trader?  I thought I ask before I take your amazing advise. 🤷‍♂️

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52 minutes ago, Shani said:

Told you guys. .15 is coming it might be slow but it's coming. Swell couldn't break .32 it's going down don't expect a bull run for at least another 5 months.

Anything can happen. I'm not interested in what you "told" me unless you can show me with a chart. This is a TA thread.

 

 

We are testing  support on BTC ....I don't think it's broken, but it certainly MIGHT break here. But so far this is still a low volume breakdown, with no big red candles...just a lot of little ones in a row. I prefer that, because it could reverse.  Downside momentum is fading at the moment. We'll see if it continues to fade or comes back stronger. We are at a critical point technically.

I see so many reasons for BTC to break out. I am very surprised it has not already broken out to the upside. I have to trust Bob L., who says the short term bottom looks to already be in. Any of us can be wrong, but he's been right a lot, and for a long time. I will continue to buy the BTC dip.

 488644398_ScreenShot2019-11-08at7_20_50AM.thumb.png.0dbdd50044847bdfb80a85cd315f0010.png

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20 minutes ago, dr_ed said:

This is @Molten's purple line, which is a valid trend line imho.....but certainly no more wiggle room here. It is interesting that on the daily the I-Cloud is still predicting green.

1171200015_ScreenShot2019-11-08at7_32_34AM.thumb.png.408943f26ec3a9346bffc32fdb96639c.png

Its impressive that the I-cloud is still green.

Its slightly puzzling yet not surprising at the same time how all of the indicators would point to a reversal or positive breakout but the downward pressure doesn't seem to let up.

I think the green cloud is just signaling a future resistance point on a continued down trend. Not actually predicting green. (Sample from another graph [not XRP] I saw below)

2019-11-08 08_54_36-Ichimoku Clouds [ChartSchool].png

Edited by AlejoMoreno

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4 minutes ago, AlejoMoreno said:

Its impressive that the I-cloud is still green.

Its slightly puzzling yet not surprising at the same time how all of the indicators would point to a reversal or positive breakout but the downward pressure doesn't seem to let up.

I think the green cloud is just signaling a future resistance point on a continued down trend. Not actually predicting green. (Sample from another graph [not XRP] I saw below)

2019-11-08 08_54_36-Ichimoku Clouds [ChartSchool].png

8:00 am here and I'm already OOL.  But thanks for this comment. Very cogent.

Edited by dr_ed

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So my chartist friend put this up last night. He declined the invitation to post here, but I offer this with his comment.

Those circled wicks, is the only thing telling me, some whale/ or quant trader is loading up. I hope I’m right. I don’t see this in the past history of XRP.

443971444_ScreenShot2019-11-08at9_53_43AM.thumb.png.664f93a3e1e0e8bdc03da59ab9adbf37.png

 

 

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27 minutes ago, dr_ed said:

So my chartist friend put this up last night. He declined the invitation to post here, but I offer this with his comment.

Those circled wicks, is the only thing telling me, some whale/ or quant trader is loading up. I hope I’m right. I don’t see this in the past history of XRP.

443971444_ScreenShot2019-11-08at9_53_43AM.thumb.png.664f93a3e1e0e8bdc03da59ab9adbf37.png

 

 

Those wicks seem to mark beginnings of rebounds, although the last one is followed by a big red candle.

The stuff that came fro Swell looks very sexy, the sort of stuff that will make a big splash in the media in coming months.  Stuff that screams "I want, I want that world they are describing, I can't wait."  Makes me feel even more secure about the future of XRP.

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46 minutes ago, dr_ed said:

So my chartist friend put this up last night. He declined the invitation to post here, but I offer this with his comment.

Those circled wicks, is the only thing telling me, some whale/ or quant trader is loading up. I hope I’m right. I don’t see this in the past history of XRP.

443971444_ScreenShot2019-11-08at9_53_43AM.thumb.png.664f93a3e1e0e8bdc03da59ab9adbf37.png

 

 

Just to make sure I understand, since I really like these charts.

Do the wicks indicate that:

1. Someone intentially drove the price down and then scooped up the second the price got low enough before others do?

Or

2. The market drove the price down on its own, and a whale is taking the opportunity to load up before others do at the lower price?

In either case, in theory, the wicks mean there is huge demand at the low price which is good.

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1 minute ago, AlejoMoreno said:

Just to make sure I understand, since I really like these charts.

Do the wicks indicate that:

1. Someone intentially drove the price down and then scooped up the second the price got low enough before others do?

Or

2. The market drove the price down on its own, and a whale is taking the opportunity to load up before others do at the lower price?

In either case, in theory, the wicks mean there is huge demand at the low price which is good.

Number one is my understanding. The exact mechanism though (jmho) is probably via algos. If bots are the main thing moving the market, the distinction between 1 and 2 might be a pretty fine point.

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16 minutes ago, dr_ed said:

Number one is my understanding. The exact mechanism though (jmho) is probably via algos. If bots are the main thing moving the market, the distinction between 1 and 2 might be a pretty fine point.

Very true.

So, in theory, we'd have to hypothesize that the price shouldn't fall again and dip too far below the wicks because that would indicate that those whales and/or trader either:

A. Don't know what they're doing

or

B. Are up to something more mischevous (for lack of being able to think of a better word)

I'd have to assume if you have that much capital you wouldn't buy in just for the price to get lower unless that is your plan somehow. Possibly a more complex plan than I could think of at the moment anyway.

Edited by AlejoMoreno

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