Long

Ripple (XRPZ18) LONG for 50% ROE (Signals, Target, Stop & More)

Updated

I will do a LONG trade on Ripple (XRPZ18), low risk (tight stop loss), based on the following signals:

Inverted hammer.
Volume decreased to a halt. (incoming breakout)
EMA50 working as support.
Very tight stop loss (low risk, high reward).
We also have a falling wedge pattern, which is bullish and hidden bullish divergence.
Target and stop loss on chart.

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Namaste.

Comment

Let me add some more to this analysis... This is only for learning and entertainment of course, the price can go either way and that's why we have a stop loss on every single trade... Let's get started.

XRPZ18 4H Analysis:

- After XRP hit its peak on the 20th November, it started to retrace.
- Retrace went as far down as to break below EMA200 (orange) but this was a fake breakout as the price moved back up quickly. Below EMA200 we have EMA300 which is the gray line.
- Now, volume is decreasing with bullish signals building up. EMA200 is the next support and we still have EMA300 above our stop loss.
- So looking at the uptrend, and the bullish signals mentioned before, we have the probability of the break going up.
- For this reason we open for LONG... and in case our trade goes bad, we have a very tight stop loss.

Namaste.

Trade active

More positive.

AlanSantana

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