XRPLong
XRP/USD: Bullish Continuation from Falling Wedge Formation
Description:
Current Setup:
I am still holding my trade on XRP/USD, targeting 3.3901. The pair is currently consolidating within a wedge-like structure, a classic falling wedge. This pattern often signals a continuation of the prevailing bullish trend.
Why Bullish Bias?
1. Liquidity Grab: Price swept multiple lows during this consolidation phase, confirming liquidity inducement.
2. Trend Continuation: Higher timeframe analysis aligns with bullish intent, and this wedge structure adds confluence for a push toward my TP.
3. Institutional Order Block: Price perfectly tapped into the 4H institutional order block, validating my entry point at 2.8887.
Expectations:
As the consolidation narrows, I anticipate a breakout to the upside, driving price toward my target. I’ll be monitoring how price reacts near the wedge breakout for confirmation of momentum.
Key Levels:
• Entry: 2.8887
• TP: 3.3901
• SL: 2.6529
What’s Next?
If price maintains bullish momentum after breaking the wedge, it could signal additional opportunities for continuation trades. Stay tuned as I update progress on this trade!
Bless trading!
Current Setup:
I am still holding my trade on XRP/USD, targeting 3.3901. The pair is currently consolidating within a wedge-like structure, a classic falling wedge. This pattern often signals a continuation of the prevailing bullish trend.
Why Bullish Bias?
1. Liquidity Grab: Price swept multiple lows during this consolidation phase, confirming liquidity inducement.
2. Trend Continuation: Higher timeframe analysis aligns with bullish intent, and this wedge structure adds confluence for a push toward my TP.
3. Institutional Order Block: Price perfectly tapped into the 4H institutional order block, validating my entry point at 2.8887.
Expectations:
As the consolidation narrows, I anticipate a breakout to the upside, driving price toward my target. I’ll be monitoring how price reacts near the wedge breakout for confirmation of momentum.
Key Levels:
• Entry: 2.8887
• TP: 3.3901
• SL: 2.6529
What’s Next?
If price maintains bullish momentum after breaking the wedge, it could signal additional opportunities for continuation trades. Stay tuned as I update progress on this trade!
Bless trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.