XRP/BTC long
0.707 = SQRT(2)^(-1), often happens in W1
Note
0.707 often happens in W2 i meant of cos, retrace of W1. Also i find this number often in triangle formations, most times in ETrade closed: stop reached
Trade closed couse of stoploss with 35% loss.
I am flat now, just watching if a pattern can be identified
even If the dip last hour was a price revearsal Zone and it is AB=CD it can´t be a uptrend correction pattern by definition ( we have Lower Lows). Ether the dip formed W1 of a big Ending Diagonal, or less likely W3 of bearish Impulse. We don´t know.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.