ARE YOU COMPLAINING ABOUT MISSING THE RIPPLE BREAKOUT?
Coin Telegraph
GOOD AFTERNOON STEEMIT!
I’m just not the type of trader who will blindly jump back in and FOMO buy a top if I’ve missed the initial move. No matter how good things seem, I’m happy to avoid. It just isn’t my style.
In forex trading, this is a tried and tested risk management strategy that keeps my account from getting smashed at the highs. In crypto however, that is a market that seems to go up no matter which coin you pick or time you buy, it means that I miss out on the odd momentum move.
And yes, of course I’m talking about Ripple...
Although I’m still burning that I didn’t hold onto my sub $1.00 USD bag of coins, I’m happy to bide my time and wait until the pullback comes. Don’t mix up a pullback and bubble bursting, because that’s NOT what I’m saying. Just a healthy, yet slightly exaggerated, low liquidity pullback that shakes out the weak and gives the smart some blood to soak up.
If you don’t think that one of these 50% to 80% pullbacks will come because Ripple is some amazing, next level project, then you’re naive. The pullback always comes.
ALWAYS!
Remember IOTA and EOS?
IOTA/USD Daily
EOS/USD Daily
How about the Bitcoin pullback that once again dropped 50% from the highs?
BTC/USD Daily
While a market losing half its value or more in a single, often swift down move might seem ridiculously irrational, the moves are actually highly technical and predictable.
Just look at the previous resistance turned support levels (at key fib retracement levels, if that’s more your cup of tea), that each of those above 3 examples respected.
Ripple is overextended on hype. When the market experiences the next jitter, Ripple will... well ripple.
Take a look at the chart below and you’ll see some of the levels that savvy, value buying traders like myself will be looking out for on pullbacks.
XRP/USD Daily
Don’t sit there burning and complaining about missing out. Plan your levels and trade your levels when the market gives you a second chance. It’s all up to you.
Peace.
Instagram: @forexbrokr
Website: www.forexbrokr.com
I totally agree, @forexbrokr.
Moreover, I think the CoinBase announcement will trigger the pull-back.
Interesting that you think that announcement will trigger the pullback when everyone else is expecting it to moon.
A real contrarian 😎.
I am pointing to this news:
https://cointelegraph.com/news/coinbase-rejects-ripple-integration-rumors-currencys-market-cap-drops-22-billion
Ohhh sorry, you’re saying that they WONT integrate Ripple.
Lots of people still think that they will, even though Coinbase says no. Look at the Bitcoin Cash saga. Nobody trusts their word now.
the next correction is coming and when it does that is when to buy, ripple has been on a high so sooner than later it will pull back. am holding on ripple coins for now
You’re going to just use the dip to buy more rather then try to get out and back in lower?
Being a newbie, I really need to catch up with information and start investing asap. Haha!
Well getting into STEEM via Steemit is the perfect place to start for a crypto n00b.
Good luck with it!
beautiful
Me?
We are cut from the same cloth mate! I hate when people buy breakout highs, such a recipe for disaster. I'm still riding my Ripple, but I wouldn't be buying fresh positions at this moment.
Gah, nice work continuing to hold. I thought the momentum surge was done long ago.
Now comes the patience.
I don't know if it will crash or not, but I sure missed a great opportunity to make some quick money
It’s not about a crash, it’s about buying a predictable, highly technical dip.
Yeah some really good points there. Sticking to your protocols is essential, despite the vibe and hype. Good game plan and great advice.
Cheers mate. Not doing dumb shit really is just about planning and sticking to it 😎.
Sure is... easier said than done tho hey?
Yep, being human is tough...
Nice post.
I had similar thinking and have buy orders set - the lower, the bigger. Hopefully they will hit someday. I also HODL a pile of XRP and regret the big amount I sold at $0.30 which was ATH then. Need to learn more patience.
Can’t be right all of the time. If it was part of your plan and you executed it, then all good :)