XRPUSD: Long to resistance at Fib and Gann Fan confluence
Updated
So XRP is putting in a decent recovery from the Great Crypto Crash of Jan 2018. Based on having broken out of the downtrend marked by the channel, as well as seeing the drop since the ATH as a three wave correction with wave C completing at the 0.786 extension level (see linked idea, in comments) - we can have a level of confidence that we have exited the corrective phase and are in the early phases of a new bullish impulsive wave.
Our target for this trade is not to Hodl or shoot for the moon, I am hoping that enough people learnt the risks of that in this recent corrective phase. We are simply targeting a very precise looking Fibonacci confluence level which is also strengthened where it meets the Gann fan. I think there is a fairly strong case for this Gann fan overlay, looking at the price history.
Best of luck!
Our target for this trade is not to Hodl or shoot for the moon, I am hoping that enough people learnt the risks of that in this recent corrective phase. We are simply targeting a very precise looking Fibonacci confluence level which is also strengthened where it meets the Gann fan. I think there is a fairly strong case for this Gann fan overlay, looking at the price history.
Best of luck!
Trade active
Related publications
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.