XRP Trade (Risk:Reward --> 1:47+) (part2)
Updated
This is the hourly screenshot of my previous analysis.
Hourly technicals suggest a squeeze. Therefore a blast upwards - 2 tp profit levels (0.88800) and the main TP as on the pic. Daily and Weekly blast went up to 0.7885, which is resistance lvl1, time for lvl 2, which is our current target. Previous big movement was 0.5 or so, that is why, with trailing SL, it can go to 1.20 ideally and then slow-down. With the upcoming news, this could easily happen within a week.
SL at BE, after 0.60. Trailing SL after 0.88800 in order to make potentially more than expected - if hype comes in, it can go even higher. Max timeframe I'm looking for TP is 1st March.
Let me know what do you think.
Hourly technicals suggest a squeeze. Therefore a blast upwards - 2 tp profit levels (0.88800) and the main TP as on the pic. Daily and Weekly blast went up to 0.7885, which is resistance lvl1, time for lvl 2, which is our current target. Previous big movement was 0.5 or so, that is why, with trailing SL, it can go to 1.20 ideally and then slow-down. With the upcoming news, this could easily happen within a week.
SL at BE, after 0.60. Trailing SL after 0.88800 in order to make potentially more than expected - if hype comes in, it can go even higher. Max timeframe I'm looking for TP is 1st March.
Let me know what do you think.
Note
Price moving nicely on technicals. Short term sell entered.Trade closed: stop reached
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