XRP (Jan 27 to 01 Feb)
On 27 Jan, XRP broke through the key resistance level turned support at 0.2300. Price may continue its uptrend move due to the following:
- Started to test the now key support level on 27 Jan
- Tested key support level for the 2nd time on 29 Jan
- Potentially in testing the key support level for the 3rd time. If condition fulfilled, price may potentially reaches the key resistance level 0.2511
Entry into the market (price action to look for):
- Price reaches level of 0.2300, await some form of reversal pattern (e.g. reversal H&S) -->
- price to enter at 0.2320
- SL at 0.2220
- TP at 0.2500
Feel free to Share your thoughts, ideas about the market under the chart below.
Please do Like it if you agree with this analysis. This will be the best feedback and encouragement for me!
Good trading & We will speak soon!
Leo_X
- Started to test the now key support level on 27 Jan
- Tested key support level for the 2nd time on 29 Jan
- Potentially in testing the key support level for the 3rd time. If condition fulfilled, price may potentially reaches the key resistance level 0.2511
Entry into the market (price action to look for):
- Price reaches level of 0.2300, await some form of reversal pattern (e.g. reversal H&S) -->
- price to enter at 0.2320
- SL at 0.2220
- TP at 0.2500
Feel free to Share your thoughts, ideas about the market under the chart below.
Please do Like it if you agree with this analysis. This will be the best feedback and encouragement for me!
Good trading & We will speak soon!
Leo_X
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