📌 🚀
🔹 Asset: XRP (Market Cap in USD)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Pennant Breakout
📊 Trade Plan (Long Position)
✅ Entry Zone: Above $138.91B (Breakout Confirmation)
✅ Stop-Loss (SL): Below $135.50B (Key Support Level)
🎯 Take Profit Targets:
📌 TP1: $143.94B (First Resistance Level)
📌 TP2: $149.88B (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$138.91B - $135.50B = $3.41B risk per trade
📈 Reward to TP1:
$143.94B - $138.91B = $5.03B (1:1.47 R/R)
📈 Reward to TP2:
$149.88B - $138.91B = $10.97B (1:3.22 R/R)
🔍 Technical Analysis & Strategy
📌 Bullish Pennant Formation: Price consolidating within a triangle, suggesting a potential breakout.
📌 Ascending Trendline Support: Price respecting support, confirming the uptrend continuation.
📌 Volume Confirmation Needed: Look for high buying volume above $138.91B to validate breakout.
📌 Resistance at $143.94B: Needs to break this level to push towards $149.88B.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure above-average volume on breakout.
📉 Trailing Stop Strategy: Move SL to entry ($138.91B) after TP1 ($143.94B) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $143.94B, let the rest run toward $149.88B.
✔ Adjust Stop-Loss to Break-even ($138.91B) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $138.91B, exit early.
❌ Wait for a 30-min candle close above breakout level before entering.
🚀 Final Thoughts
✔ Bullish Setup – Strong breakout potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:3.22 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
🔗 #XRP 🔥 #CryptoTrading 📊 #XRPUSD 🚀 #ProfittoPath 📈 #TradingView 📉 #CryptoMarket 💰
🔹 Asset: XRP (Market Cap in USD)
🔹 Timeframe: 30-Min Chart
🔹 Setup Type: Bullish Pennant Breakout
📊 Trade Plan (Long Position)
✅ Entry Zone: Above $138.91B (Breakout Confirmation)
✅ Stop-Loss (SL): Below $135.50B (Key Support Level)
🎯 Take Profit Targets:
📌 TP1: $143.94B (First Resistance Level)
📌 TP2: $149.88B (Extended Bullish Move)
📊 Risk-Reward Ratio Calculation
📉 Risk (SL Distance):
$138.91B - $135.50B = $3.41B risk per trade
📈 Reward to TP1:
$143.94B - $138.91B = $5.03B (1:1.47 R/R)
📈 Reward to TP2:
$149.88B - $138.91B = $10.97B (1:3.22 R/R)
🔍 Technical Analysis & Strategy
📌 Bullish Pennant Formation: Price consolidating within a triangle, suggesting a potential breakout.
📌 Ascending Trendline Support: Price respecting support, confirming the uptrend continuation.
📌 Volume Confirmation Needed: Look for high buying volume above $138.91B to validate breakout.
📌 Resistance at $143.94B: Needs to break this level to push towards $149.88B.
📉 Trade Execution & Risk Management
📊 Volume Confirmation: Ensure above-average volume on breakout.
📉 Trailing Stop Strategy: Move SL to entry ($138.91B) after TP1 ($143.94B) is hit.
💰 Partial Profit Booking Strategy:
✔ Take 50% profits at $143.94B, let the rest run toward $149.88B.
✔ Adjust Stop-Loss to Break-even ($138.91B) after TP1 is reached.
⚠️ Fake Breakout Risk
❌ If price fails to hold above $138.91B, exit early.
❌ Wait for a 30-min candle close above breakout level before entering.
🚀 Final Thoughts
✔ Bullish Setup – Strong breakout potential.
✔ Momentum Shift Possible – Watch for volume confirmation.
✔ Favorable Risk-Reward Ratio – 1:3.22 to TP2.
💡 Stick to the plan, manage risk, and trade smart! 🚀📈
🔗 #XRP 🔥 #CryptoTrading 📊 #XRPUSD 🚀 #ProfittoPath 📈 #TradingView 📉 #CryptoMarket 💰
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.