DISCLAIMER: I am not a financial advisor. All contents on this blog are solely my own personal views and for Cryptocurrency Trading education purposes only. Cryptocurrency Trading is very risky. Losses can exceed deposits. Enter with discretion.
My 7 XRPUSD open long trade positions have already entered its 33rd day of holding at the time of writing this article.
As of today, my July 16, 2020 entry at 0.19-cent level is now enjoying a total net profit of 50.55%.
Chart was screenshot at 7:52PM Philippine time. Courtesy of Tradingview.com
Today’s Intraday open is 0.31584, high 0.32180, low 0.30855 and current price based on my screenshot is at 0.31021. XRPUSD is down by 1.65% while rival BTCUSD up by 2.87% and ETHUSD up by 0.83% at the time of writing. Today’s volume is sitting at 27.55 Million, which is lower than yesterday’s.
I added a new line color in GREEN highlighting the new higher high for my 34 day trading in XRPUSD which was previously in color RED. See image below:
You may read my yesterday’s report here:
Daily XRPUSD Technical Analysis – August 17, 2020
Yesterday’s Price Action Analysis:
XRPUSD manage to break higher highs on my 34-day trading journey where price reach as high as 0.32911, only 0.00089 shy for 0.33 level.
I highlight yesterday’s price action because it broke the previous high last August 2, 2020 which was at 0.32655. The new 34-day high is up by 0.00256 giving special mention that yesterday’s volume is only 102.89 Million compared last August 2 which is 166.662 Million.
My Overall Chart Analysis from July 16 – August 18, 2020:
3 DOJI candles formed
1 Engulfing pattern formed
Overbought-Oversold ratio is in favor of BULLS at 22-12 score.
Final thoughts for today’s analysis:
In order to reach fresh high at 0.33 level, BULLS must maintain the 0.30-0.31 level and break the 0.32 barrier.
If you know how to read charts, you won’t lose the battle of trading. The charts are our friend. Listen to them. They are screaming loud and clear. We just need to listen.
Of course do fundamental news research too.
That’s all for today. Don’t forget to write comments below this article for any corrections, questions or additional info that I might missed.
Have a great day ahead! Stay tuned for more XRPUSD analysis! Thank you! :-)
HAPPY TRADING!
