Ripple shows first signs for reversal

BITSTAMP:XRPUSD   Ripple幣 / 美元
We may not hit the target at 0.80 - 0.90 zone as ripple already drop too fast.
Double bottom pattern is on its way to create. If it is done, the first target will be at the trend line 1.60 (this lovely place for ripple). And probably will be broken to rise up to second target at around 1.80 - 1.85 (another lovely place).
評論: More information is available in my initial analysis:
評論: Ripple maybe found some support level at 1.20
Let's see if is stable enough for reversal point.
評論: I am long at all next ATL levels.
Never miss a chance and put some stop loss.
Target: 1.60; 1.80 - 1.85

Target 0.80-0.90 is still valid. Prepare yourself and trade with care.
交易進行: Target is completed. :)
We have to see some strong retrace very soon. I expect near 1.60 at a first target.
Make some profit and stay away until sign for reversal is activated.
評論: It is a bit risky, because trend is broken downside. It was a time to change the trend, but I did not like that way. Let's see what can happened.
評論: I found some other support level we already retrace twice.
It is possible to consolidate in triangle trend several days. Triangle ends at $ 1.00

評論: Another possible sign for trade reversal. We touch 0.85 again and re-bounce near the pink support level. It may create double bottom and bounce to the ichimoku cloud.
This is needed to wake up the bulls.

It is unclear that this support is active because at that zone 0.85 is a key support zone (0.80 - 0.90).
I am still bullish and waiting for a good confirmation to add more.
評論: Price level is now over Ichimoku cloud.
I buy more ripples and wait to touch the trend line. Maybe we will see retracement first time and seccond attempt will be successed.
Breaking 1.55 - 1.60 zone is a key to reverse the trend.
If it does not happend, then ripple can consolidate in orange triangle zone for a while.
I do not expect ripple to get back to 3.20. Most likely is to stay between 1.80 - 2.00

評論: I post images from my bitfinex account where the trend is drawn differently.
I change it to initial one and It now looks we already touch the top of trend range.
Available space between ichimoku and top of the trend range is so tight. If ripple exit trend upside it can go higher than 1.60 and stay there with no particular retracement.

評論: First target completed @ 1.60

評論: A new bullish trend is confirmed!
We can expect next move to the upper bound of trend @ 1.90 - 2.00 and then rebounce to 1.80-1.85

評論: We are in consolidation bouncing into descending triangle.
Ripple will soon break up upwards because flat bottom means suport at that level - 1.47. It seems a good support.
Don't be greedy! 1.85 - 2.00 is a good zone to sell.

I will be off after that move.

取消訂單: First target was reached. Failed to reach second one. Possible bullish trend creation.
I am waiting for retracement at 1.00 — 1.25.
Will post more info later.
評論: I cancel my second target because I think ripple may move within trend drawn bellow. Both lines are touched several times already. Retracement to 0.95-1.00 can prove it. Let's get some break to see what's in ripple mind.

would love to hear your opinion on this
nixel volkergu
I am not familiar with that pattern. I learn for it here on trading view. At this stage I cannot rely on it.