another xrp short

BITFINEX:XRPUSD   Ripple幣 / 美元
XRP's latest run seems to be correcting, and so far it's gone down quite far.
thoughts are that if it corrects all the way to the bottom of the latest run then that ends the growth waves and indicates a possible top.
would then expect to see a h&s pattern form before going down below $2

also the whole xrp pump has been quite overextended in my opinion, and the 'euphoria stage', after which the correction starts, has already been hit.
not going to set a stop loss for this one, and going to put more profit targets since the last xrp short didnt quite hit the profit target and bounced right back.

one of the riskier but more profitable trades, will have to watch it closely and react accordingly
評論: forgot to mention this is a longer term trade, no defined entry points, for now $2.6 seems like a decent entry, hopefully it might overextend into $2.7 levels which would also be a good entry.

*if indicators flip and RSI goes bullish then I wouldn't recommend entering a short.
交易進行: price hit $2.7 and indicators looking bearish, good time to open short
交易結束:目標達成: both targets reached:)
手動結束交易: good place to take profits if you took the long term shorting idea :)
Good call! Do you think its gonna have a long run again? I dont own any and i dont like XRP at all, but i think i will have to take advantage of its popularity for some quick profit!
+1 回覆
@Acel, honestly the hype around it is dying and its run was very similar to that of bcash and iota's... looks like it should just die out for a while from here...
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