XRP is getting ready
Updated
hi traders,
it is not a favorite coin but hey traders don't care. XRP is about to finish its 4th wave and getting ready for the 5th. The 4th wave is a symmetrical triangle and also making a very nice bull pennant if you use the classical charting. Both fibs and the flag pole give the same target of 0.86 USD which is close to 30% return.
Additionally, pay attention to the golden cross on the H4 frame and the RSI support lines.
Wait for a breakout to trade or set a tight stop loss.
This is not a financial advice.
it is not a favorite coin but hey traders don't care. XRP is about to finish its 4th wave and getting ready for the 5th. The 4th wave is a symmetrical triangle and also making a very nice bull pennant if you use the classical charting. Both fibs and the flag pole give the same target of 0.86 USD which is close to 30% return.
Additionally, pay attention to the golden cross on the H4 frame and the RSI support lines.
Wait for a breakout to trade or set a tight stop loss.
This is not a financial advice.
Trade active
so far so good peoplehere is H1, closed above the line
H4 still has another 55min to close to confirm.
get ready!
Note
no confirmation yetTrade active
You may enter trade now but I am going to wait for the retest of the triangle to enter. Of course unless it makes a jump.Note
The line is defended well people. I am in but will be watching the BTC activity closely.
good luck
Trade closed: target reached
I am closing my position people. Took a nice 9% profit.BTC is showing alot of indecisiveness and no need to take the risk.
You will never bankrupt by taking profit and do not chase couple of more percentage points.
See you in the next trade
Trade closed: target reached
well, how about that... the overnight price action reached to my target spot on but I have closed my position much earlier... I took 9% profit instead of 25%...To be fair, when I closed my position there was no negative sign for XRP at all; RSI was pointing upwards and well above the support, MACD was going up.BB had room to go too. HOWEVER, there was high risk on what BTC was going to do, hence I closed my position. In the end, I protected my capital and made profit. This is what matters as there will always be another trade.
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.