XRP BUMP AND RUN PATTERN
Updated
XRPUSD is trading between $0.2 and $0.3 on 1d on the 4H I observe a potential bump and run pattern in the works signifying a reversal on the trend Once the pattern fulfills and the upper channel of the downtrend line is broken i expect quick move to retest the top of the range at $0.3.
A long is open from $0.22
this trade invalidates if the bottom of range $0.2 is broken
Trade active
the bump and run pattern is active and in play. prices have broken out the upper band of the channel ..i scale up my longs after we broke the channel and once prices print a HH. I will adjust my stops to 0.215
Note
if anyone is interested in the micro view or trading it on 1H I have highlighted the demand zones with the dash lines..
A trader can make a buy/sell decision based on how candles approach at the zones
Note
the proposed bump and reversal pattern is invalidated.
but since prices fell to the previous low which is close to the bottom range of 0.2$ .. i bought more here my stop loss remains 0.2$
if prices trade below 0.2$ i will close this trade
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