Short

RIPPLE - Short Opportunity - 12% ROI - Risk/Reward 4:1

By hedgewithcrypto

Updated

Reasons to consider a short sell:

Rising wedge formation indicates fewer buyers on each re-test of trend line
Pop out the top of rising wedge into a previous consolidation zone that trigger a sell off during May (supply zone)
Risk to reward (4:1) meet's criteria and allows multiple profit targets

Trade active

I've moved stops to BE already to lock in a free trade. At a minimum half risk

Trade active

Target 1 hit! Trailing stops to lock in profits

Trade active

Possible head and shoulders pattern. Another bearish sign. Could see a retracement to the neckline before continuation to target 2

snapshot

Trade active

Another rising wedge pattern on 15min:

snapshot

Trade closed manually

Out of position on trailing stop. Locked in profits. Also note something is definitely cooking on XRP/USD. A lot of accumulation.

hedgewithcrypto

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