A Note before reading - this is a forecast analysis - based upon our trading strategy. This is tagged long, due to purchasing further increments upon imbalances.
Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities.
Previous Analysis
Master Key for zones
Below is the outlined top down analysis for the XRP update. Please read and understand the imbalances and take into account the possible zones for new buys, sells, keeping in mind the imbalance in play - currently - long/bullish.
Monthly imbalances:
The three identified zones are in place here to provide the key areas for where price will look to consolidate before the continuation pattern completes.
Price has now broken through the monthly zone . The price will now look to tail off to fall back between $1.21 - 0.84.
The price here has been creating higher high with the closes on the monthly candle.
The information here price has been informing imbalance buyers is that the big opportunity here is clear to gear up for a buying imbalance.
The weekly imbalances
The weekly zones are outlined and sit above the monthly, as these act as reversion points for the buying and selling imbalances.
The very strong imbalance between $0.26-0.24 shows the great opportunity for longs only, it was just a case of buying in, and when price reverted back to test the low as these newly established trading ranges offer. A clear opportunity to add is recognised here - *subject to higher timeframe whereby closes are filling the wicks and rejecting the monthly.
Two key criteria to follow here:
I Price has placed a key weekly whipsaw effect from the initial formation of the price inefficiency.
II The consequence of this pair being the most liquid is testing the previous imbalance upon the motion of a risk scenario where price becomes a controlled shift of price inefficiency.
The monthly reference here shows four candles of interest whereby consecutive months have resulted in large wicks where price has created the imbalance required.
Daily chart - see idea link published 16th April 2021 above for updated chart:
See the daily imbalances applied - here patience will be required to wait for the clear sell off to occur as price will have created a reversion point on the daily time frame, this will offer discount to the awaiting buyers. Here is also an opportunity to short - for hedging.
Fibonacci retracement tool - zone alignments
The two outlined zones are clear indicators of where shorts will be good areas to take profits if you so wish.
And also additional buy points.
Price will need to close in the desired zone and infill the imbalance upon the four day, weekly timeframe* use these as references.
Do you enjoy the setups?
Professional analyst with 5+ years experience
Focus on technical output not fundamentals
Position and swing trades
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities.
Previous Analysis
![XRP long [2021-2022]](https://s3.tradingview.com/u/ugjyrbPq_big.png)
Master Key for zones
- Blue = Monthly
- Purple = weekly
- Scarlet - Four day
- Orange = Daily
- Magenta = 8 Hour
- Grey = 4hour
- Pink = 1 hour
Below is the outlined top down analysis for the XRP update. Please read and understand the imbalances and take into account the possible zones for new buys, sells, keeping in mind the imbalance in play - currently - long/bullish.
Monthly imbalances:
The three identified zones are in place here to provide the key areas for where price will look to consolidate before the continuation pattern completes.
Price has now broken through the monthly zone . The price will now look to tail off to fall back between $1.21 - 0.84.
The price here has been creating higher high with the closes on the monthly candle.
The information here price has been informing imbalance buyers is that the big opportunity here is clear to gear up for a buying imbalance.
The weekly imbalances
The weekly zones are outlined and sit above the monthly, as these act as reversion points for the buying and selling imbalances.
The very strong imbalance between $0.26-0.24 shows the great opportunity for longs only, it was just a case of buying in, and when price reverted back to test the low as these newly established trading ranges offer. A clear opportunity to add is recognised here - *subject to higher timeframe whereby closes are filling the wicks and rejecting the monthly.
Two key criteria to follow here:
I Price has placed a key weekly whipsaw effect from the initial formation of the price inefficiency.
II The consequence of this pair being the most liquid is testing the previous imbalance upon the motion of a risk scenario where price becomes a controlled shift of price inefficiency.
The monthly reference here shows four candles of interest whereby consecutive months have resulted in large wicks where price has created the imbalance required.
Daily chart - see idea link published 16th April 2021 above for updated chart:
See the daily imbalances applied - here patience will be required to wait for the clear sell off to occur as price will have created a reversion point on the daily time frame, this will offer discount to the awaiting buyers. Here is also an opportunity to short - for hedging.
Fibonacci retracement tool - zone alignments
The two outlined zones are clear indicators of where shorts will be good areas to take profits if you so wish.
And also additional buy points.
Price will need to close in the desired zone and infill the imbalance upon the four day, weekly timeframe* use these as references.
Do you enjoy the setups?
Professional analyst with 5+ years experience
Focus on technical output not fundamentals
Position and swing trades
Provide updates where necessary - with new updated ideas tracking the progress.
If you like the idea, please leave a like or comment.
To all the followers, thank you for your continued support.
