ðXRP BROKE OUT THE CHANNEL! PREVIOUS ANALYSIS PROVED CORRECT!ð
ðHey, just gonna make this idea real short since I'll post the main and more detailed one tomorrow morning but anyway our previous Idea was correct! We saw XRP breakout following that final move out of our marked bearish pattern in which case we already noted the possibility of a breakout, on top of that the Fed's rate hike was 75 BP which while still being the highest BP rate hike increase since 1994 led to this short relief rally we are looking at right now as most of the market was already prepared for a high hike of 75 but the biggest fear was that it could possibly be higher with wall street floating the possibility of even a 100 BP hike. So in the least this helped the market feel at least a bit better considering the situation we're in right now.
ðI just wanted to follow up on that since we we're right in our drawings and I always like to look back and make note so I can look back for that price action and possibly even predict future actions based on that! I also have been letting you guys know already that sooner or later our EMA's would have to flip and they indeed have leading us to see a bullish move which has no doubt sent us on a pretty nice trip back up to that 0.33 level and we even followed the marked directional arrows we'd previously put down. And not just that but our line of defense has still held up since we first noted it down with it sticking true to that strong buy support kicking in whenever we enter down, I let you guys know yesterday that the next move we saw was gonna be pretty significant and it absolutely was! So I'm glad to see that no doubt. We also noted how a breakout was possible in today's Idea thanks to the Fed's decision upon which the market was relying and the possibility of this happening if we broke out this pattern!
ðRight now the main question is gonna be whether or not stuff is gonna stay up here or if whales are gonna take advantage short term and try to cause a mountains fall and simply use this opportunity today as a way to play the market and make a big short play flipping our EMA's again. Chances are we are likely gonna get pulled back down to that sideways channel at least once more before moving back up but with these impulse moves as I like to call them you'll usually see some kind of short fall precede before things go back to being relatively normal/okay as today's trading activity has no doubt been impacted by the Fed's decision so tomorrow it'll be up to the whales and MM's so keep watch for those, and of course if we move below the sideways channel we'll see another fall and have to watch that last defense line again, hope that helps, thank you.
And if you guys felt that helped in any way or was insightful in the least a like or a follow is always much appreciated, have an absolutely wonderful day! And as always trade responsibly and always do your own DD
~ Rock
ðI just wanted to follow up on that since we we're right in our drawings and I always like to look back and make note so I can look back for that price action and possibly even predict future actions based on that! I also have been letting you guys know already that sooner or later our EMA's would have to flip and they indeed have leading us to see a bullish move which has no doubt sent us on a pretty nice trip back up to that 0.33 level and we even followed the marked directional arrows we'd previously put down. And not just that but our line of defense has still held up since we first noted it down with it sticking true to that strong buy support kicking in whenever we enter down, I let you guys know yesterday that the next move we saw was gonna be pretty significant and it absolutely was! So I'm glad to see that no doubt. We also noted how a breakout was possible in today's Idea thanks to the Fed's decision upon which the market was relying and the possibility of this happening if we broke out this pattern!
ðRight now the main question is gonna be whether or not stuff is gonna stay up here or if whales are gonna take advantage short term and try to cause a mountains fall and simply use this opportunity today as a way to play the market and make a big short play flipping our EMA's again. Chances are we are likely gonna get pulled back down to that sideways channel at least once more before moving back up but with these impulse moves as I like to call them you'll usually see some kind of short fall precede before things go back to being relatively normal/okay as today's trading activity has no doubt been impacted by the Fed's decision so tomorrow it'll be up to the whales and MM's so keep watch for those, and of course if we move below the sideways channel we'll see another fall and have to watch that last defense line again, hope that helps, thank you.
And if you guys felt that helped in any way or was insightful in the least a like or a follow is always much appreciated, have an absolutely wonderful day! And as always trade responsibly and always do your own DD
~ Rock
