Head & Shoulders Formation - $1.05 Short Opportunity
Updated
Currency Pair: XRP.USD
Time Frame: 4hr
Predicted Direction: Short
Live XRP.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Time Frame: 4hr
Predicted Direction: Short
Live XRP.USD updates will be available in the comments section below.
The brief trade analysis presented above is my predicted direction and requires multiple different indicators and confluence factors prior to validating a trade opportunity.
Note
Attached below is an illustration of how i generate a H&S trade opportunity.
Note
Although i have identified a trade opportunity and potential trade levels, should price not meet the rules or not break the H&S then there will be no trade execution.Note
Given the setup and pair i would wait for a clear close below $1.056 prior to a short opportunity.Note
Breakout is now confirmed.Note
Price tracked perfectly alongside ETH, i hope everyone was able to take advantage.Note
Price is forming bullish RSI divergence on multiple timeframes, expect a pullback towards .96
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