XRP - 2021 April update
Hello Traders and Analysts,
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.
Master Key for zones
See the previous tracking here:
![XRP long [2021-2022]](https://s3.tradingview.com/u/ugjyrbPq_mid.png)
- short term analysis
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 [previously only tested once]. 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.
Putting the four day and weekly chart together
with reference to the price finding an inefficiency on the weekly time frame - the pattern formed showed strong wicks and reversals occurring as price action takes affect.
The inefficiencies here are tested but the sellers are now removed and buying imbalances are in place.
There has been great opportunities to short from the weekly imbalance to maximise potential upon hedging or purely aggressively selling from +$0.60 zone as the weekly pattern completed. Conversely, this is short lived as the fresh zone is always retested with XRP as the higher weekly lows show a steady formation.
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.
Cross asset analysis:
Using the weekly time frame, XRP is lagging behind the two correlated pairs - however is offering large scope for new zones for smaller imbalances.
*OMGNetwork - Black
*Tezos - Green
These two coins move with a very strong positive correlation - whereby price
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.
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.
Master Key for zones
- Blue = Monthly
- Purple = weekly
- Scarlet - Four day
- Orange = Daily
- Magenta = 8 Hour
- Grey = 4hour
- Pink = 1 hour
See the previous tracking here:
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 [previously only tested once]. 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.
Putting the four day and weekly chart together
with reference to the price finding an inefficiency on the weekly time frame - the pattern formed showed strong wicks and reversals occurring as price action takes affect.
The inefficiencies here are tested but the sellers are now removed and buying imbalances are in place.
There has been great opportunities to short from the weekly imbalance to maximise potential upon hedging or purely aggressively selling from +$0.60 zone as the weekly pattern completed. Conversely, this is short lived as the fresh zone is always retested with XRP as the higher weekly lows show a steady formation.
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.
Cross asset analysis:
Using the weekly time frame, XRP is lagging behind the two correlated pairs - however is offering large scope for new zones for smaller imbalances.
*OMGNetwork - Black
*Tezos - Green
These two coins move with a very strong positive correlation - whereby price
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.
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