$XRP/USDT 1D (Binance Futures) Symmetrical triangle breakdown
Ripple has broken bearish and got rejected by 100EMA on the retest, more downtrend is likely for the coming weeks.
Current Price= 0.9405
Sell Entry = 0.9390 - 1.0130
Take Profit= 0.7850 | 0.6530 | 0.5350
Stop Loss= 1.1290
Risk/Reward= 1:1.25 | 1:2.11 | 1:2.88
Expected Profit= +19.57% | +33.09% | +45.18%
Possible Loss= -15.68%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 1x
Estimated Gain-time= 2 months
Current Price= 0.9405
Sell Entry = 0.9390 - 1.0130
Take Profit= 0.7850 | 0.6530 | 0.5350
Stop Loss= 1.1290
Risk/Reward= 1:1.25 | 1:2.11 | 1:2.88
Expected Profit= +19.57% | +33.09% | +45.18%
Possible Loss= -15.68%
Fib. Retracement= 0.618 | 1 | 1.414
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade active
All entries filledRipple is trying to break inside the triangle again but let's stick to the plan.
Note
+13.07% (1x) from average entryRipple is finally showing some weakness, if you entered big you can start reducing, but targets are still in play!
Note
TP1 almost hit with +18.85% (1x)Ripple missed first target by 0.0070$ then bounced back, that's was very close.
Now facing 100EMA resistance again, don't forget your SL in case it breaks bullish!
Order cancelled
CL with -3.56% (1x) and -0.23RRipple broke back inside the triangle and almost hit our SL during the night.
Priority seems to be bullish again, 100EMA acting as support now, time to cancel on that pull-back!
Trade closed: target reached
TP3 would have been reached with +45.18% (1x) and +2.88RRipple went for all targets after all, this analysis was so on point, we should have stuck to it...
Congrats is you traded it manually down to the bottom, we honestly did not but good for confidence anyway!
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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.