XRPUSD: Buying Opportunities at SMA200
The price reached the support zone formed by SMA200 and 0.220$ support level. We have a bullish divergence that gives a solid bullish signal. MACD lines are supporting a possible upward movement.
We can build a trading plan for this market based on the price reversal from the support zone. Entry points can as close to the support zone as possible as well as above the local downtrend line. If you decide to buy from the support, you have to wait for the exact reversal signal. Stop orders must be placed below SMA200 and the local swing low. The main profit target will be at the resistance zone.
The market can break the support zone and move downward. It will give us new trade opportunities with better entry points.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
We can build a trading plan for this market based on the price reversal from the support zone. Entry points can as close to the support zone as possible as well as above the local downtrend line. If you decide to buy from the support, you have to wait for the exact reversal signal. Stop orders must be placed below SMA200 and the local swing low. The main profit target will be at the resistance zone.
The market can break the support zone and move downward. It will give us new trade opportunities with better entry points.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
Disclaimer
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