XRP has been trying to stay above the $1.6 support line for some days nw, RSI still in the neutral territory on the 30mins chart,if the market price breaks the EMA50 on the 30mins chart successfully the market price might attempt to hit the support level again around $1.6 to $1.8 before reversal,will go short from $1.6 to $1.7 and set take profit at $2.2.
I don't think you mean that you will "go short" at 1.60--1.70... I think you mean that you will "go long" (ie. buy XRP). Going short would be taking advantage of retreats in XRP price.
Malkaviano
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Good obserwations, but I wouldn't short it.
XRP in Singapore and partnership with MoneyGram is big news.
Japs will take it undervalued and speculate like crazy.
raybana
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@Malkaviano, you know you are right i think the market price is yet to fully react to the partnership news between ripple and money gram suggesting further upside might still be in place however i will look for a good support level to go long ,however still strategy is just to make quick profits going short!!
Malkaviano
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@raybana,
A good short was at 2.2
Someone called it and I was amazed at the accuracy. I called further upside.
Right now the price is in stabilization, gains are small.
For me this is not the time to enter. You'll get stuck in the middle of range either way.
Also, if You short when it's already goin down, where is Your security?
raybana
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@Malkaviano, simply saying buy the dip at the range specified and set short take profit at 2.2 that's all
Malkaviano
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@raybana,
Then You go long for short term. Not short.
Short =/= Short term.