XRP forming inverse H&S, possible 12% gain
XRP is starting to form an inverse H&S. We can set the stop loss really tight here because if it fails to bounce off the support line, the H&S fails. Possible extension to previous levels above $1.00.
Note
There are some previous support levels around 0.87, so may want to move stop-loss a bit lower to around 0.865. If it breaks that, it will most likely continue freefall to 0.80. Entry at around 0.90, I'm thinking a trailing-stop of 0.03 arm after entering position at bottom of right shoulder triggered at 0.93 to mitigate risk.Note
XRP is now halfway down the shoulder, we want to wait for a bounce off of that bottom right shoulder though. If there is no bounce, there is no trade.Trade active
A day late, but hit the right shoulder target! Hung around that shoulder support for a candle or two and then some buying. Trade is active.
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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.