Awaiting Re-entry signal on XRP/USD
Updated
We exited our previous XRP trade yesterday with a 18% profit, now we're looking to re-enter long on a re-entry signal (if it comes..).
The previous trade was entered from a 4HR setup and break of the trend breakout level (1), and exited off a weak overextension signal (2) and the following candle's forming hammer off resistance.
Looking for a re-entry signal to re-enter the 4HR trend, ideally around (3) which is around the daily kumo. If we get the signal (just like at (5)), we place a conditional entry order just above that candle (or the candle before that, depending on price action). The blue line at (6) is the re-entry level.
First target resistance is the same resistance as last trade at (4).
Daily
Daily chart is on a kumo breakout, but no trend setup yet. If we get a rejection from the daily kumo we will most likely get a clean re-entry signal on the 4 HR
That's the plan, set alerts, and close the charts :)
To get access to the indicator and try it out, please go here:
Like and subscribe if you enjoy our work!
Stay calm, and happy trading!
ZenTrader
The previous trade was entered from a 4HR setup and break of the trend breakout level (1), and exited off a weak overextension signal (2) and the following candle's forming hammer off resistance.
Looking for a re-entry signal to re-enter the 4HR trend, ideally around (3) which is around the daily kumo. If we get the signal (just like at (5)), we place a conditional entry order just above that candle (or the candle before that, depending on price action). The blue line at (6) is the re-entry level.
First target resistance is the same resistance as last trade at (4).
Daily
Daily chart is on a kumo breakout, but no trend setup yet. If we get a rejection from the daily kumo we will most likely get a clean re-entry signal on the 4 HR
That's the plan, set alerts, and close the charts :)
To get access to the indicator and try it out, please go here:
Like and subscribe if you enjoy our work!
Stay calm, and happy trading!
ZenTrader
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