BTC/USD, XRP/BTC, XRP/USD, XRP/EUR. 10/11/2019
The Reversal head and shoulders pattern is one of the Best indicators to use to see a reversal trend in the Charts.
Also if you break Major Support/Resistance line it is very very significant to its continued Trend.
As i will try to explain for the non-technical and people who do not understand all the complicated charting guys that they see on twiiter or You tube.
TA and charting is very simple once you know a few basic steps. I will try and teach a few principles hear but for more in-deepth Knowledge you need to contact me via twitter. My precious xrp @ccryptosecure is my user name.
Big picture out look. Bullish and Bearish trends seen.
Support/Resistance lines when you can draw them correctly, they are the best indicators to use for finding trends.
But through experience; I can pick my direction with a high probability and use of a very strict set of Rules that I teach my Private clients. When to get in, when to get out and how to cut your losses if the trade goes in the wrong direction.
You are never ever going to win all trades. All we can hope for is that we win more than we lose through TA and other Rules not taught to normal traders. Keep trading and TA simple.
We have had a nice consolidation period along this Support/Resistance line and the spring is coiled now in a positive direction.
The Reversal Head and shoulders pattern is forming now right on the Major Support/resistance line.
Volume is picking up slowly. But we are just after Swell. So it could possible fade. But if it continues now and into next week we could break out of this downward trend easily. I am bulliah on XRP/BTC
This info was taken from the chart above.
RSI is also in Heavily over sold territory and the Macd is about to touch and bounce.
Moving averages are starting to move in the right Direction again.
Step 2: Green goes above red
step 3: this is taught in my course.
Above Screen shot is just the overall big magnified look at XRP right now. I try to keep it simple for everyone.
If we break that blue line and close below it on the daily candle we are going to 20 cents and possible lower.
But because of all the bullish indicator i am seeing now i am bullish on XRP right now and going into the coming months for XRP.
Is Alt-seaon Coming
BTC is looking very weak and is starting to loss Dominance in the market. slow to start but it will pick up speed soon.
When it does the Alts will Roar. :)
There is Fear back in the market for BTC. 3k to 6k is on the horizon for BTC in the future.
Alt-season is coming folks.
I have done an very indeepth Technical Analysis on XRP/BTC charts and seperatly on BTC also and my conclusion is that Alt-season is coming faster than the Bull market for BTC.
XRp is sitting right now on the point where it is coiled to breakout to ATH or to Its Previous low from 2017.
But when trading and as long as you use strict trading rules it does not matter what way the trade goes as long as you have given yourselve the best possible proability of its direction. you will Get it right eventually because maths always win at the End. MAthematics never lie. Trading and charting is all about mathematics, Human Pyscology and heard mentality. When you train your mindeset to understand this concept the rest is easy. Like taking sweets from a baby.
I am bullish on XRP right now with a very good Stop loss in place. This is something i teach you first. WHERE TO PLACE AND HOW TO PLACE A STOP LOSS TO GIVE YOU THE BEST GAINS POSSIBLE. :)