Hello traders Lord rate with - crypto calm your number one source for
cryptocurrency technical analysis and blockchain education in this video we're gonna be doing a blinding analysis on a ripple again and
Pio a couple of breakouts on our hands, so we're gonna let you take a look
Alright guys, we're looking at Ripple - Bitcoin for our chart finance exchange
I'm gonna read it go ahead and reap lot all this for you
We already had it - but why not it's to be a education aspect
So all we did
All we did is
move our plot points which was here
Had a breakout had a nice trade 80% a in the six one eight he got hit
So plot point one plot point two here plot point three down here
Lots of respect along the heart line like always what's the next step we do gas
Draw our fibs. Let's get our support fibs
Swing low its way high
Can't so what other resistance could we have I'll show you this real quick
Pop 101
plot point two right here, so multiple levels, right a
Resistance that they were broken both times, so let me show you this is the four-hour chart, okay?
so technically and
We'll go to the one hour to blood on the four hour. This was your first real
Bullish engulfing candle just because this bullish engulfing didn't quite
Engulf this previous candle that was the hook, okay, so now let's take a look at the one hour
It's more telling
Okay, so
We broke our first level right see clear levels of resistance
we broke it we hooked then we went up and we touched this right and then we came down and
We got our bullish engulfing candle right here
This was your buy signal
Okay, guys sit on the one hour if you played it with the one hour for the trade
This was your your buy signal, so what are we done since then well?
What you probably want to do right when you get bullish confirmation above really multiple trend lines
So this is a beautiful, and this is confirmation upon confirmation here, so how would we fit this?
Let's go back before our real quick
So yeah, let's get rid of the support fibs for now
Showed you. How we do it all the time so right here. This is a I think you can serve it a swing high
Give you a good risk to reward swing low right here
Okay, so I'll zoom in where's our first level. It's a profit if you are in this trade
80% then six one eight
Okay guys, that's it. That's it right
You look at our risk to reward
Won't say okay, that's right
In the eggs your position I
Say look you could go down here, but it's gonna skew your reward pretty
Pretty bad right so you can come down at this level okay, and play it like that
But then you only have a two point six nine to one
risk to reward
which
Frankly may not be worth it you always want to be looking for three to one or more on your on your odds, okay?
So I think we got some nice bullish divergence going on on the 4-hour chart
We're not in any kind of danger right here. We're not overbought by any means plenty of room to run
So this display could take out it could take a while, right?
Just take a look I
Mean this was
February 9th
And it is it's been a month right so one month of development from our swing on a swing low
This is not gonna take this is gonna be more than a day of a trade. This is a swing trade guess
It's not as a tree. So you could set your stop-loss down here
If you really wanted to be safe and not get stopped out because we could bounce around here for a while
Or if you wanted to be riskier you could go see where this wick is
You could take it here and give you almost four to one on your odds
You take your profit
So I hope that helps. I mean this is just the way you kind of have to look at it
You have to risk your or you have to weigh your risk to reward and figure is it worth it
better support here, but you skew your
you know your award ratio, so
Things to think about you want two point six nine two one or three point eight one so almost four to one
I like four to one and so I mean honestly falling back below these two levels you break down there
I don't even know if you want to mess around this trade
So you could even set your stop-loss a little love a little tighter because honestly
These are the levels that you have to hold so it could bounce around bounce around bounced around
Off these levels which happens from time to time, and that's why you have to weigh
you have to make a decision on if you want to be loose on your
under stop-loss
And then that's going to give you a two point five to one down here two point seven five to one
But again we like seeing three two one or better
So those are things to think about so your property your fingerprint your six one if you're in this trade, so
moving on
POA I
Don't know just randomly looking through my list when I was about to start the livestream today, and then it was just like whoa
We're applauded one two three four five six times you had this
Separate trendline respected, and then you had this down here right here one
So I needed so
Sweet at one hour
We did have a break who can go on the one hour and let me show you where it is
Okay, you broke out you failed you broke you hooked
technically right close enough to a
Testing use your bullish engulfing candle right you got this. This is your buy confirmation signal so
What else we have going on it's like we have some nice positive momentum a big chunk right there
Higher than our previous time right just about and so yeah, how would we?
draw our targets
You swing high up here look this is
228 two
Three nine I mean, this is a pretty well-established downward sloping channel, so
What do you do?
You think about how long it's taken to develop?
And then you kind of think about how long it might take for this trade to run its course
so
What is it like
Twelve thirteen days or so you've been establishing this so
Profit-taking levels you're 50% and you're six one eight
So let's see what help if it plays out and we'll see if you bought at you're
Bullish engulfing which was right here, let's take a look at our risk to reward that
Guys
Yeah
So you shove us down here get a little looser if you want it just because look
If you're gonna take you're gonna exit your position here the six one eight
Look at that four point six two you could even go a little lower if you want. It's you can be looser looser mr.
Ward you could have a four to one now a looser stop-loss and
you know in
several days four to five days
This may we're on its course, but we don't know but this is how you kind of?
This is how you make decisions guys. This is you you look at trend lines
You look at resistances those resistances are broken key levels you get your confirmation your break
You can go
and then you weigh your options on restore Ward and you can make your
Restore award whatever you want using this tool over here to the left right see this the long position. That's what you use
So I think you could have a pretty loose top here, and you could have four to one on your odds and
You know this trades already developed, so I'm not saying by right now by any means
I'm saying if you bought on this on this go on this bullish engulfing candle
This is what what what it would look like your wrist reward four to one so hey
Maybe POA it craps out it fails. That's okay because you're restore was good
You move on to the next
Trade so cuz this was just something I wanted to show you all I know in the four hour
We're already getting you know we're like 64 65 of us. Okay, look we can break above
look we
You're a little extender for you're twinning your 50s
so you could come down and make a higher low again this trade is not gonna have to shoot up and
End this is gonna take time to develop you come down right here up down
Up down up to I could take five days six days maybe
But you just when you're in swing trades like this you just wait you set your stop loss is up
And then when you get close enough to another level when you get to the two three six three a two
that's when you say your limit sells and
Then you go to sleep you wake up, and then hope look one of my positions was closed my limits L was filled
Okay, so that's that's how worse guys
So I really hope you
Enjoyed this
We're doing a livestream tonight. I just got done doing a two hour and
15 20 minute livestream so
Gus we'll see what happens with these these trades, and we'll just go from there so until next time stay out
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