XRP Trade on May 30, 2019 05:24 from Marius: Tradervue User Stock Trades.

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Marius

 

BTC continues to be rangebound as this means more than healthy for altcoins. I originally exited my original XRP position for a 4% move. Re-entered here to add to my position size as we are getting towards the level of resistance. A new level of risk was defined with the current price action. My conviction in this trade is still on the strong side but this will be only be my second time trading this name. Characteristics in this trade points to more bullishness as the crypto market is gaining traction testing key levels. Adding more info here on top of what was mentioned in the

previous trade here
.

  • RVOL
  • Market Cap 19.3B
  • ATR 0.0357

XRPUSD W, price in upper range of week
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XRPUSD 24h, cup & handle slight downtrend line, weekly resistance 0.46669, large daily trading range, a bit more than half of days previous trading volume with a little more than half a trading day left
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XRPUSD 8h, decreasing bear volume, increasing bull volume (more detail than last previous trade analysis)
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Trade Review
Stop order was fulfilled. Back to full cash position. Putting on extra risk on this trade under my own timeframe and risk management parameters was responsible. (risk/reward and trade planning made sense but will still seek where I could have made improvements) There is a notable characteristic change in the price movement/momentum which needs more evaluation. BTC was unable to hold above a key breakout level. Bears have a strong move and signal here. I'm unable to short on my exchange or have any live trade experience in short selling and will observe here. Bear volume on this move stands out to me here and noting it in the charts below.
BTCUSD 8h, noting 4h HL's still holding but probability of a loss here if bearish momentum continues
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XRPUSD 8h, using the 8h as I'm on a mid-term time frame and the volume data is clearer to me. Still using multiple time frames though to get the full perspective.
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Execution detail:

Date/time Symbol Side Price Position
2019-05-30 05:24:09 XRP buy $0.4606 long
2019-05-30 10:00:58 XRP sell $0.4350 0


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