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XRP Whales in Accumulation Spree. Further Gains Ahead?

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I see XRP at 0.3$ , if it goes beyond 0.3$ it may even reach 0.5-0.55$ pretty fast.

But , to me we re still bearish in the mid term. bullish on the short term tho

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Everyone try to remember that nothing goes straight up.  It will correct some, perhaps violently.  BTC frequently prints 20-30% corrections during bull runs.  This run is getting overbought so there will likely be a correction soon.  Be ready for it and don't let it scare you.

As for me, I am using tight trailing stops just below the 20 hour moving average, which seems to be providing pretty good support.  A break below might signal a deeper correction (or it could just be a wick down and then rocket up).  Deep in profit so rather play defensive at this point.

To illustrate, the hourly chart for XRP shows the 20 hour MA to be around $0.27.  It will likely drop down to there and, if it is wanting to keep going up, will bounce off that point.  A cross below probably means a bigger correction.  $0.21 is the line to hold.

Ba3L542s

 

Edited by Master_of_Brain

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46 minutes ago, Master_of_Brain said:

As for me, I am using tight trailing stops just below the 20 hour moving average

I have never actively traded.  Bhodl.  But I’m tempted.  So I’ve started thinking about what I would do.  So say I’d set the stop just below the 20 hr using your chart there I would’ve sold once and probably been too slow to get back in and so made a loss.

It seems like a perilous thing to me.  I know some of you make money but buggered if I can figure out how to follow you guys into those dangerous waters without being swamped.

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22 minutes ago, Dogowner5 said:

I have never actively traded.  Bhodl.  But I’m tempted.  So I’ve started thinking about what I would do.  So say I’d set the stop just below the 20 hr using your chart there I would’ve sold once and probably been too slow to get back in and so made a loss.

It seems like a perilous thing to me.  I know some of you make money but buggered if I can figure out how to follow you guys into those dangerous waters without being swamped.

You might find this technique interesting, it's one of the more popular "systems."

I've been actually experimenting with coding this decider process, as it can be a bit tedious to perform manually for hours on end.

The key is you watch for momentum flips, and go long or short quickly, and hope to capture the meat of the profit each cycle.

If you want to know more, there's lots of good youTubes talking about it - LMK if you care, I'll dig up a few I thought were well presented and easy to follow.

Cheers

https://www.investopedia.com/articles/trading/05/scalping.asp 

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25 minutes ago, Dogowner5 said:

I have never actively traded.  Bhodl.  But I’m tempted.  So I’ve started thinking about what I would do.  So say I’d set the stop just below the 20 hr using your chart there I would’ve sold once and probably been too slow to get back in and so made a loss.

It seems like a perilous thing to me.  I know some of you make money but buggered if I can figure out how to follow you guys into those dangerous waters without being swamped.

Hodl is the safest and likely best strategy unless an experienced trader. You're right that you could get stopped out only to see it rocket higher without you.  At that point, you have to either jump back in or have the patience to buy the next dip.

Hodling also has it's perils (see 2017 to about one week ago).  Got to know when to call it quits and cash out.  Always have a plan and stick to it.

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