XRP/BTC - WEEKLY monitoring of XRP the 'standard'
Everyone is talking about this finally dying off, but I don't see it. XRP will be around for some time. It's got too much of a narrative and community behind it, and all it takes is some changes in sentiment for it to be back to it's "best".
SIMPLE PLAN:
* Monitor these support levels
* Look for a *convincing* bounce at the local support or the next one down
* Buy a position with a tight stop loss if and when that happens, scale out as we approach each resistance
RISK MGMT:
* Would need to see better sentiment across altcoins in general
* Tight stop loss and assume it would falter at first attempt at resistance
= = = =
I am a simple man. Look at daily and weekly charts and trade based on 4 levels of support and resistance.
Enter infrequent trades and always assume it will be a loser. Protect my capital. Don't stress, ever.
I trade with camomile tea in hand.
SIMPLE PLAN:
* Monitor these support levels
* Look for a *convincing* bounce at the local support or the next one down
* Buy a position with a tight stop loss if and when that happens, scale out as we approach each resistance
RISK MGMT:
* Would need to see better sentiment across altcoins in general
* Tight stop loss and assume it would falter at first attempt at resistance
= = = =
I am a simple man. Look at daily and weekly charts and trade based on 4 levels of support and resistance.
Enter infrequent trades and always assume it will be a loser. Protect my capital. Don't stress, ever.
I trade with camomile tea in hand.
But it could falter at the local resistance and collapse back down to the 'final destination' of the 1479 mark (massive support of Nov 17).
Really strongly doubt it won't seen an uptrend from that level.