XRP - Potential 4.5% Short Trade
Updated
XRPBTC seems to be about to make a move - just like many other ALT coins. As seen on the chart, it is currently between strong levels of Daily Support and Resistance and follows the green Trend Line .
Recently, we had a Doji candle, followed by a Bullish Hammer ( ish ) and a sideways trend break.
Even though candles are not sufficient to make a decision, they occurred at a support level which:
a) Doji - Shows that the market is indecisive - possible trend reversal
b) Hammer - Shows that buyers are stronger than sellers and are refusing to let the support break.
This is a 2:1 Risk to Reward ratio.
Stop loss should be set below the support - where exactly depends on your risk appetite.
Hope that works out for you!
Trade closed manually
Hello everyone,We had a little push, however not strong enough to hold the support.
Since support has been broken, it will now likely become resistance.
I would exit this trade now before hitting the stop loss.
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