Technical
Vision
After the
price of the ripple rose strongly in the movement S1 Price entered in the
direction of the channel (channel 1) continued trading within the channel for a
long time, which was indicating a significant decline in optimism among traders
on the Ripal, whether speculators or investors, but the chances were higher to
penetrate The bullish trend is higher, based on the fact that the cross-move
movement after the strong bullish movements is a bullish flag (bullish flag)
It was the
scenario that has already been achieved after the price managed to penetrate
the cross-section of the channel upward to achieve the movement S 2, which
prompted investors to enter strongly in an attempt to push the price to the
highest possible profit-taking, and after that already began to decline
gradually because of profit-taking to meet the currency negative news It
plunged strongly to reach the level of (0.8773)
But the
latest movement has to be taken into account because it is the most important
movement now
In the
previous chart, the price is a model called Spike and channel, which is a very
well known pattern in the strong movements that are a continuation of the
bullish trend. As is known in this model, the price channel after the strong
bullish move indicates that the bullish momentum has started in weakness, Which
indicates the possibility of price entry in the corrective movement.
After that,
the price of the lower rib of the channel has already broken and entered the
corrective movement.
• The first goal of the corrective movement after
breaking the pattern is the beginning of the price channel.
Which
happened on the currency of the ripple where prices returned again to the level
of beginning of the channel price (level 1)
And then
found the currency purchasing power prevented it from penetrating this level,
but the emerging movement is weak compared to the previous movement, which means
the following
The recent
bullish movement (Spike) was very strong and resulted in the ascending channel,
but we can use the full movement to be the ascending movement from point A to
point B
Corrective
movement from point B to point C was approximately 50% of the previous
movement, which means that the corrective movement was not a reversal of the
bullish direction but a correction is probably compounded in itself due to the
strength of the decline and the time taken by the corrective movement to end
After the
corrective movement was expected and the price should start to rise again to be
higher than the previous summit to complete the upward trend, but this did not
occur and the upward movement weak, which indicated that the price is still
trying to end the downward correction movement
But after the
price was the last 4 candles, which all came Doji bars, make sure the price
entry in the movement of the cross is likely to enter the price now the cross -
section which means that now there is no upward trend or bearish on the price
but the trend now Is a cross trend which means that the first price level of
the buy close to the bottom of the cross-direction at point C and the first
level of profit-taking is level B as the top of the cross-trend, but this
trading in the near term
Long-term
trading is still above 50% upside
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