$XRP/USDT 1D (Binance Futures) Descending trendline breakout
Ripple is ranging inside a big symmetrical triangle for a whole semester now, prepare for some action!
After that rejection on 200MA, retesting the 50MA then going toward upper-line is quite probable.
Current Price= 0.7239
Buy Entry = 0.6987 - 0.6435
Take Profit= 0.8066 | 0.9297 | 1.0718
Stop Loss= 0.5578
Risk/Reward= 1:1.2 | 1:2.28 | 1:3.54
Expected Profit= +20.19% | +38.53% | +59.71%
Possible Loss= -16.88%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 2 months
After that rejection on 200MA, retesting the 50MA then going toward upper-line is quite probable.
Current Price= 0.7239
Buy Entry = 0.6987 - 0.6435
Take Profit= 0.8066 | 0.9297 | 1.0718
Stop Loss= 0.5578
Risk/Reward= 1:1.2 | 1:2.28 | 1:3.54
Expected Profit= +20.19% | +38.53% | +59.71%
Possible Loss= -16.88%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade active
First entry filledRipple dipping to the demand zone, it may go for 2nd entry before bouncing back, be patient!
Trade closed: target reached
TP1 reached with +20.19% (1x) and +1.2RRipple bounced and reclaimed 200MA support, road to higher targets seems likely!
SL moved to 2nd entry (0.6435$) to secure the trade, let's be patient enough.
Trade closed: target reached
TP2 reached with +34.74% (1x) and +2.28RRipple continued the up-trend as expected, SL updated to first entry now (0.6987$).
Trade closed: target reached
TP3 was reached with +57.33% (1x) and +3.54RRipple perfectly hit last target before starting to retrace down, that was precise!
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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.