Ripple (XRP) Long Lower Time Frame (2H) Pennant Formation
Hello Viewers.
Pennant Formation as a Continuation Pattern are two converging lines containing price action.
Although Symmetrical Triangle has tendency of both the downward or upward movement , on the uptrend its considered as long continuation pattern, though the entry point is only after the confirmation of the breakout.
Potential Target Zones are found through the Resistance Zones of Previous Price Action Data.
RSI forming a double Bottom on the 50 value line in support with MACD reversing the Histogram to green with converging lines.
As Long as we Hold and stay above the 20EMA, 50MA ,100MA & 200MA the Security is in uptrend.
Enjoy!
Pennant Formation as a Continuation Pattern are two converging lines containing price action.
Although Symmetrical Triangle has tendency of both the downward or upward movement , on the uptrend its considered as long continuation pattern, though the entry point is only after the confirmation of the breakout.
Potential Target Zones are found through the Resistance Zones of Previous Price Action Data.
RSI forming a double Bottom on the 50 value line in support with MACD reversing the Histogram to green with converging lines.
As Long as we Hold and stay above the 20EMA, 50MA ,100MA & 200MA the Security is in uptrend.
Enjoy!
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