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Charting the course of XRP


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6 minutes ago, Baka said:

I hope it will go well for you.

I'd prefer buying some other alt coins that have way more chance to go up than XRP tbh.

In maybe some minutes we'll be in the 28 cents , even lower than yesterday night before I went to bed ( it was 28.9 cents).

Over the past few weeks I'd sold about 60% of my XRP and moved into XLM & ADA but XRP was just soooo low, so I sold off my BTC to restore my original XRP position. 

I'm looking at others but it's always a bit hard to pick out other coins from the crowd.

 

If we dip below this support then I'm definitely buying about 1/3 of the money I've set a side

Edited by Bear_tax
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Hi guys,

Before I start a whole thread for a few questions:
I am just starting a new personal build project in Python; an XRP trading bot. Nothing fancy, I want to use a few TA indicators to either buy/sell/hold on a daily/hourly schedule. Unfortunately, I've got very little experience with TA. I've been reading up the last few days (thanks Investopedia!), and doing some very simple backtesting. I'm currently thinking about using the EMA's for 8 and 21 days, MACD, RSI and perhaps Bollinger bands (haven't read into these yet, but I see them often).

What TA indicators do you guys use?
Do you actually trade based on these indicators, or do you only use them to gauge the market?
What other indicators would you advise me to look at?

Thanks a bunch!

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4 minutes ago, Gambaard said:

Hi guys,

Before I start a whole thread for a few questions:
I am just starting a new personal build project in Python; an XRP trading bot. Nothing fancy, I want to use a few TA indicators to either buy/sell/hold on a daily/hourly schedule. Unfortunately, I've got very little experience with TA. I've been reading up the last few days (thanks Investopedia!), and doing some very simple backtesting. I'm currently thinking about using the EMA's for 8 and 21 days, MACD, RSI and perhaps Bollinger bands (haven't read into these yet, but I see them often).

What TA indicators do you guys use?
Do you actually trade based on these indicators, or do you only use them to gauge the market?
What other indicators would you advise me to look at?

Thanks a bunch!

The experience I have (mainly with fiat) pairs is bollinger + RSI plus candle patterns some of which I have shown here.

I generally use 1D TF with 5H in order to get best point where to enter and 1W for longer term trends.

I buy when price goes below or approaches the lower BB, RSI is oversold or anyway very close to the oversold region and hold until the middle of the BB. or if in an uptrend I buy when price reaches the 20sma in a retracement and hold until it goes to the upper boundary of the bollinger band.

I do not use many more indicators because they give more or less the same indication. 

Sells, when on or above the upper Bollinger band, rsi overbought.

 

The risk with this strategy is that on longer TF I  do not get the inversion, but only a limited retracement and, when I buy,  price does not really increases, but moves just horizontally or goes a bit up and then continues down. But for that there is SL.

The difficult part is take profit: I close one position thinking that price won't go up more but I miss 70% of the movement. I leave the position open hoping for the contrary, but my LS is hit. Sometimes price retests the same level 3-4 times or market makers seek stop losses.

So if you trade on daily TF you need to put your SL at a distance equal to 1-2 daily candles from your entry point. To do that one must use very low leverages. The leverage depends on the movement of the pair. For instance with eur/usd I use 2-4. But the same with eur/gbp is already too much, because the pair used to move much more in %. So this is a matter of experience.

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21 hours ago, SadtoshiNaggingmoto said:

Noones got int Eth? Seems like the safest bet.

I got into ETH a few months ago, and then put all my XRP into ETH on 23rd December....but now it seems a bit high to buy...both BTC and ETH's prices intimidate me from a buying perspective.  I've been selling my ETH bit by bit over the last week or so. 

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19 minutes ago, Gambaard said:

Hi guys,

Before I start a whole thread for a few questions:
I am just starting a new personal build project in Python; an XRP trading bot. Nothing fancy, I want to use a few TA indicators to either buy/sell/hold on a daily/hourly schedule. Unfortunately, I've got very little experience with TA. I've been reading up the last few days (thanks Investopedia!), and doing some very simple backtesting. I'm currently thinking about using the EMA's for 8 and 21 days, MACD, RSI and perhaps Bollinger bands (haven't read into these yet, but I see them often).

What TA indicators do you guys use?
Do you actually trade based on these indicators, or do you only use them to gauge the market?
What other indicators would you advise me to look at?

Thanks a bunch!

Sentiment is the best indicator you can have, if you see certain member here screaming to get out or spewing hateful comments, that's the indicator to buy. 

If all the moon bois show up here calling for ever rising prices, all the euphoria and excitement, that's when you sell, can't get anymore accurate than that. 

Using the example as above, you would have exited the pump before the sec case crashed xrp to oblivion. 

Also, you would have bought near the low at around 20 cents and be in deep green now if you used the extreme fear to buy. 

Thank me later. 

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17 minutes ago, Gambaard said:

Hi guys,

Before I start a whole thread for a few questions:
I am just starting a new personal build project in Python; an XRP trading bot. Nothing fancy, I want to use a few TA indicators to either buy/sell/hold on a daily/hourly schedule. Unfortunately, I've got very little experience with TA. I've been reading up the last few days (thanks Investopedia!), and doing some very simple backtesting. I'm currently thinking about using the EMA's for 8 and 21 days, MACD, RSI and perhaps Bollinger bands (haven't read into these yet, but I see them often).

What TA indicators do you guys use?
Do you actually trade based on these indicators, or do you only use them to gauge the market?
What other indicators would you advise me to look at?

Thanks a bunch!

Try some different types..... If you get good results with backtesting, you could try small amounts in a live test.

This library should help with the heavy lifting. :)

https://github.com/mrjbq7/ta-lib

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21 hours ago, SadtoshiNaggingmoto said:

Noones got int Eth? Seems like the safest bet.

Not before Bitcoin... market exchange liquidity crises is priming it for next leg up regardless of the tether scare.
 

But I did sell off a few cryptos that were very fractional in the Blockfolio to make Ethereum 3 percent of my holdings while paying a premium getting in around a 1,100 average. I just really thinks it will have legs and would be good to hold with everything else.

But not at the expense of my lower valued, hopefully late blooming asset called xrp.

 

 

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price is now testing the triangle. If it breaks it then it will retest main support line (yellow)

I had hoped that Biden could take any action just after entering the WH in order to bring clarity. Well, he just began yesterday, so let's give him some more time.

If he does it, then we'll see any sudden change of behaviour. But if Biden's politics is to lead that process through the long content between SEC and ripple, then xrp will reach deeper levels.

image.thumb.png.ce2161ff868e174245bda9140049eaaa.png

image.thumb.png.fa583be54b35410ce5ac901ca02ecb41.png

To me the outlook is still quite bearish: the longer we are in this situation and no good news occur the deeper price.

As usual this is only my interpretation of the charts and the present situation.

image.thumb.png.f2f947375d70fd50398a8a85b23df720.png

Edited by JJJ2
correction of grammar
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3 hours ago, JJJ2 said:

price is now testing the triangle. If it breaks it then it will retest main support line (yellow)

I had hoped that Biden could take any action just after entering the WH in order to bring clarity. Well, he just began yesterday, so let's give him some more time.

If he does it, then we'll see any sudden change of behaviour. But if Biden's politics is to lead that process through the long content between SEC and ripple, then xrp will reach deeper levels.

image.thumb.png.ce2161ff868e174245bda9140049eaaa.png

image.thumb.png.fa583be54b35410ce5ac901ca02ecb41.png

To me the outlook is still quite bearish: the longer we are in this situation and no good news occur the deeper price.

As usual this is only my interpretation of the charts and the present situation.

image.thumb.png.f2f947375d70fd50398a8a85b23df720.png

By deeper levels you mean the dark abyss depth of $0.006?

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