📉🚨
🔹 Asset: XRP – Crypto Market Cap
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown (Rising Wedge Reversal with Fibonacci Retracement)
📊 Trade Plan (Short Position)
✅ Entry Zone: Below $144.00B (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $145.89B (Key Resistance Level)
🎯 Take Profit Targets
📌 TP1: $139.90B (0.5 Fibonacci Level)
📌 TP2: $137.33B (0.618 Fibonacci Level - Strong Support)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$145.89B - $144.00B = $1.89B risk per trade
📈 Reward to TP1:
$144.00B - $139.90B = $4.10B (1:2.2 R/R)
📈 Reward to TP2:
$144.00B - $137.33B = $6.67B (1:3.5 R/R)
✅ Favorable Risk-Reward Ratio toward TP2
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakdown: Price action shows bearish momentum, signaling a potential pullback.
📌 Fibonacci Confluence: The 0.5 and 0.618 Fibonacci retracement levels align with strong support zones.
📌 Resistance at $145.89B: A rejection from this level confirms the bearish setup.
📌 Volume Confirmation Needed: Look for high selling volume below $144.00B to validate the breakdown.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong selling volume below $144.00B before entering.
📉 Trailing Stop Strategy: Move SL to break-even ($144.00B) after hitting TP1 ($139.90B).
💰 Partial Profit Booking Strategy
✔ Take 50% profits at TP1 ($139.90B), let the rest run toward TP2 ($137.33B).
✔ Adjust Stop-Loss to Break-even ($144.00B) after TP1 is reached.
⚠️ Risks & Considerations
❌ Fake Breakdown Risk: If the price reclaims $144.00B, exit early.
❌ Confirmation Required: Wait for a 30-min candle close below $144.00B before entering.
🚀 Final Thoughts
✔ Bearish Setup – Strong downside potential.
✔ Fibonacci & Wedge Breakdown – High confluence.
✔ Favorable Risk-Reward Ratio – 1:3.5 toward TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📉
🔗 #XRP #Crypto #ShortTrade #TradingView #ProfittoPath 💰📊
🔹 Asset: XRP – Crypto Market Cap
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bearish Breakdown (Rising Wedge Reversal with Fibonacci Retracement)
📊 Trade Plan (Short Position)
✅ Entry Zone: Below $144.00B (Breakdown Confirmation)
✅ Stop-Loss (SL): Above $145.89B (Key Resistance Level)
🎯 Take Profit Targets
📌 TP1: $139.90B (0.5 Fibonacci Level)
📌 TP2: $137.33B (0.618 Fibonacci Level - Strong Support)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$145.89B - $144.00B = $1.89B risk per trade
📈 Reward to TP1:
$144.00B - $139.90B = $4.10B (1:2.2 R/R)
📈 Reward to TP2:
$144.00B - $137.33B = $6.67B (1:3.5 R/R)
✅ Favorable Risk-Reward Ratio toward TP2
🔍 Technical Analysis & Strategy
📌 Rising Wedge Breakdown: Price action shows bearish momentum, signaling a potential pullback.
📌 Fibonacci Confluence: The 0.5 and 0.618 Fibonacci retracement levels align with strong support zones.
📌 Resistance at $145.89B: A rejection from this level confirms the bearish setup.
📌 Volume Confirmation Needed: Look for high selling volume below $144.00B to validate the breakdown.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure strong selling volume below $144.00B before entering.
📉 Trailing Stop Strategy: Move SL to break-even ($144.00B) after hitting TP1 ($139.90B).
💰 Partial Profit Booking Strategy
✔ Take 50% profits at TP1 ($139.90B), let the rest run toward TP2 ($137.33B).
✔ Adjust Stop-Loss to Break-even ($144.00B) after TP1 is reached.
⚠️ Risks & Considerations
❌ Fake Breakdown Risk: If the price reclaims $144.00B, exit early.
❌ Confirmation Required: Wait for a 30-min candle close below $144.00B before entering.
🚀 Final Thoughts
✔ Bearish Setup – Strong downside potential.
✔ Fibonacci & Wedge Breakdown – High confluence.
✔ Favorable Risk-Reward Ratio – 1:3.5 toward TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📉
🔗 #XRP #Crypto #ShortTrade #TradingView #ProfittoPath 💰📊
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.
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.