XRPUSD Bearish Gravestone and how it pays out
Updated
Hello again!
At first: don't trust me - It's your money - Your decisions
Let's have a look on the weekly timeframe:
Overall i'm very bullish on XRP for the next couple of weeks, but there is a bearish gravestone on the weekly. We saw a nice bull run on the daily without clean retracements, so it's likely that the gravestone pays out and we see some pullback. Into the bargain we had LH's and LL's on the 4H / D timeframes. There are different targets on my chart between -20 and -40% and it is hard to say where we find weekly support if the bearish scenario pays out.
The next weekly candle will verify a bearish or bullish trend. I'm out of my position atm.
Bearish confirmation:
> opening a short position when you saw a confirmation, and low of the Doji breaks down. | S/L .277
Bullish confirmation:
> the weekly goes or closes higher then previous. | S/L .321
/! take care of fake breakouts
/! maybe we see some faster pullback on the daily and still get a bullish confirmation at the weekly
Stay safe :)
Comments welcome
At first: don't trust me - It's your money - Your decisions
Let's have a look on the weekly timeframe:
Overall i'm very bullish on XRP for the next couple of weeks, but there is a bearish gravestone on the weekly. We saw a nice bull run on the daily without clean retracements, so it's likely that the gravestone pays out and we see some pullback. Into the bargain we had LH's and LL's on the 4H / D timeframes. There are different targets on my chart between -20 and -40% and it is hard to say where we find weekly support if the bearish scenario pays out.
The next weekly candle will verify a bearish or bullish trend. I'm out of my position atm.
Bearish confirmation:
> opening a short position when you saw a confirmation, and low of the Doji breaks down. | S/L .277
Bullish confirmation:
> the weekly goes or closes higher then previous. | S/L .321
/! take care of fake breakouts
/! maybe we see some faster pullback on the daily and still get a bullish confirmation at the weekly
Stay safe :)
Comments welcome
Note
Targets between .235- .255Trade active
100 MA @ 4H turned from support into resistance. 200 MA is slightly below targets.
Trade closed manually
strong support target .27 hit - i didnt notice :(closed bulls step in after breakout .303
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