RIPPLE - Pullback & Downtrend (Reversal)
Updated
The price of Ripple (XRP) broke a strong trend line and is now reversing.
I'm expecting the price to pullback to our Key Zone from where the downtrend will continue.
We will consider to open a short position after the pullback is completed.
There are two possible entries according to the Fibonacci Retracement levels.
A pullback to 0.382 followed by a rejection could lead to a strong continuation of the downtrend.
A pullback to 0.5 followed by a rejection could lead to a weaker continuation of the downtrend.
We will match our exits accordingly!
Feel free to ask questions and share your own ideas in the comments section.
You can also support me on Patreon if you like my ideas!
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
I'm expecting the price to pullback to our Key Zone from where the downtrend will continue.
We will consider to open a short position after the pullback is completed.
There are two possible entries according to the Fibonacci Retracement levels.
A pullback to 0.382 followed by a rejection could lead to a strong continuation of the downtrend.
A pullback to 0.5 followed by a rejection could lead to a weaker continuation of the downtrend.
We will match our exits accordingly!
Feel free to ask questions and share your own ideas in the comments section.
You can also support me on Patreon if you like my ideas!
Disclaimer:
Any opinions, chats, messages, news, research, analyses, prices, or other information contained in this Idea are provided as general market information for educational and entertainment purposes only
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