XRP provides one of the few crtypo trades where I might consider fundaments and a change in sentiment.
I said this when it popped on the court news.. wait for bias and momentum checks, it’s going to pull back. We see that unfolding now…
First, this is a fundamental and psychology play. Do you believe XRP outcome has changed the narrative for this asset? The axiom, sell the news buy the rumor is true. The news already happened, we are now in the early rumor phase.
Few ways to trade this:
- You trade in reaction zones. You DCA into those zones
- You outline reaction zones, you wait for confirmation reaction zones are reacting in the expected move up, you DCA in on confirmation
Trading is really not that hard. It’s a simple questions at this point.
Intention has been give by the chart.
Do you have conviction XRP is going above 1.00 and beyond? Is it probably that it wants to at least try to take out it’s previous high around $2?
Now it’s just trade entry and management, takes less than 90 seconds to look at a chart and make these decisions.
Do you DCA down to .33? Do you be patient and see if it gets there the start to DCA? DO you DCA around the key reactions zones between here and .33?
Put entries, alerts, however you trade.
I will concede that I say it’s easy but here’s why I say this… and this is stuff I’ve taught for years, here and YouTube for free.
It’s easy because I trade the same system, with the same indicators in all markets, on all chart types and time frames. I also know the type of trade I’m doing, manage my risk easily and simply. No dumb calculations, 1:2, 3R ratios, or anything like that. This trade for me is very simple, let’s use…
XRP Trade Decisions Based on Current Chart
It either makes sense scaling into and around the reaction zones and with an overshoot of .33.
It is at this point I will answer our TM2S (Trade Management 2 Questions) questions to keep me focused to either get out of the trade or stick with it. Heck, I might even get out and then 2 days later re-enter. At this point for me there is nothing to do but wait, and plan.
I’ve given this advice to everybody here for years. People who aren’t alpha’s ya’ll might think I’m here to pitch my system, well yeah, I’m proud of it, I think it’s the best…
What makes this easy for me is my system is based on the fundamentals of great trading systems. So the things I share often seem like they are about my system when really my focus is edge, trading with conviction, and consistently and reliably pulling capital from the market.
That’s what I think few maybe don’t get from my journey on YouTube and here… it was a documentation of me confirming what makes a great trade system. As I discovered things and applied them, saw they were reliable and happened in patterns I incorporated them.
I am passionate and love trying to figure out the markets and mastering something that can never be mastered. I’m always questioning things, looking for edge…
I also know when it’s time to ship, time to exploit the knowledge. So my life is still a consistent battle between discovery of the market and implementation of the knowledge that puts money in my pocket.