XRP RIPPLE – Jan 10 Technical Analysis, Long Entry $1.70-$1.85, Target 24% @ $2.25-$2.3

Really appreciate steemit vote ups! XRP slowly finds support for a bounce.

Watch out for a resistance at $2.00 first. If we break that, we’ll hit those targets I think. XRP reaches a crtical apex region and 0.5 fib level soon, priming for a bounce. It doesn’t mean the overall correction is over. This is a specific swing trade position listed, not a long term hold position.

Long Trade
Risk to Reward = 1.8:1
RR Taken at $1.85
Entry Price = $1.70 – 1.85
Target 1 = $2.30
Stop Loss = $1.60
Chain to gain = 24%
Chance to lose = 13%

If it falls to $1.70 and I
find support with signs of
reversal, I’ll double up on
my position.

Which gives a great R:R
Showing below as example only, not
positioning the trade

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Please always remember we trade using probability and not all trades are winners. We manage our risk with stop losses and try to win over time. Those that don’t understand this, and expect only to having winning trades, will always lose money over time.

The ultimate goal is to help the crypto community because I think there’s a lack of these type of videos. I want to share everything I’ve learned because knowledge is only power if passed on. These are educational videos intended to teach how to think through thought-out rationalization.

DISCLAIMER:

I’m not a financial adviser, nor am I giving you any tips on when to buy, sell, etc. I’m simply stating my opinions and what I personally look for. Those that follow my trades blindly and don’t understand risk management, will always lose over time. I manage risk differently. Not all trades are winners. We manage our risk with stop losses and win over time. Even if we’ve entered at a similar price, I can micro manage my risk, by shedding, adding, reducing, etc, but those calls aren’t made. Therefore despite entering near the same price, I may come out well ahead while you may take a loss, even if we exit at the same price when the market goes against my call. Remember, I always profit OVER TIME, and am not focused on winning every single trade. As long as we win more than we lose over time. I want to be very clear so you understand the outcomes will always be different even if we take the same trade. I MANAGE RISK and see this game as a probability. Therefore, be forewarned.

XRP RIPPLE – Jan 10 Technical Analysis, Long Entry $1.70-$1.85, Target 24% @ $2.25-$2.3

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Kane Dane