Ripple Forecast Update And Follow Up

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Ripple Forecast Update And Follow Up

Hi Traders! The Ripple forecast update and follow up is here. On October 6th I shared this “Technical Analysis – Ripple Forecast” post in my blog. In this post, let’s do a recap of this setup and see how it has developed now. If you would like to learn more about the way we trade and the technical analysis we use then check out the Traders Academy Club. Spoiler alert – free memberships are available!

My Idea:

Looking at the H4 chart we could see that the price which is moving higher has broken above the most recent downtrend line and is holding above it, which we may consider as evidence of bullish pressure. In addition to this the ADX indicator gave a bullish signal at the cross of +DI (green line) versus -DI (red line) and the main signal line (silver line) reads value over 25, we may consider this as yet another evidence of bullish pressure. Currently, there are no contradictory signs in play, so based on all this, my view is bullish here and I expect the price to continue higher further. If the price moves lower and if we get a valid breakout below the most recent uptrend line (marked in green) then this bullish view will be invalidated.

(Note: You can learn about a Killer Forex Strategy “Double Trend Line Principle” here)

Ripple Forecast Update And Follow Up

 

 

Ripple H4(4 Hours) Chart Current Scenario

Based on the above-mentioned analysis my view was bullish here and I was expecting the price to continue higher further until the uptrend line holds. We then had a pullback but most importantly the invalidation level (uptrend line) was holding and there were no contradictory signs opposing this bullish view. The price then moved higher further as I expected it to and provided an excellent move to the upside as you can see in the screenshot below.

Ripple Forecast Update And Follow Up

You can see this move clearly on the H1 chart below:

Ripple Forecast Update And Follow Up

Currently, on the H4 chart, we have a potential bearish divergence that is forming based on the MACD indicator. This is something that we need to pay attention to. So if you are still involved in the buys then this is a good place to consider managing your trade and secure your profits (cash out or partial cash out or trailing protections or partial hedge, etc.. depending on the strategy that you work with).

Note: If you want to learn about Money Management you can find it here

As traders we always have two choices, the first one is to fall in love with our analysis and try to convince the market and expect the price to move in the direction as per our wish. The second one is to follow the facts that the market provides us and make the right actions according to that. As you know the first option won’t help us and as you can see in the example above what happened when we followed the facts that the market hinted to us and took the right action according to that.

For similar trade ideas and much more join the Traders Academy Club and get access to our complete watch list and trade report. 

This is how the report looks like. A table with the hottest market opportunities, screenshot behind every pair and time frame (anything that is in blue inside the table is clickable and leads to a screenshot) + a summary in text format, kind of highlights. And of course, Live Market Analysis every single day.

Ripple Forecast Update And Follow Up

 

If you have any further questions, don’t hesitate to drop a comment below!

 

Happy Trading!

Yordan Kuzmanov
Chief Trader at the Traders Academy Club

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