XRPLong
XRP/USD - Triangle - Possible Break Up
Updated
Due to strong fundamentals, alongside with the overall Crypto market recovery, XRP demonstrated a 30% rally on Tuesday. It looks like a triangle has been formed and a break of it could happen anytime in the next 4 - 5 hours. The higher risk is the break on the upside, but there is a probability that it can break down as well (if BTC fails to keep momentum and will retrace to 6200 - 6250 levels).
The trade idea is to wait for the 1 hour candle close above the triangle + the recent high which coincides with the downtrend line from mid August. SL below the recent swing low and Target level calculated from the base of the triangle.
The idea and the overall trade set-up will become invalid if the break will not happen in the next 4 -5 hours.
Good luck to all!
The trade idea is to wait for the 1 hour candle close above the triangle + the recent high which coincides with the downtrend line from mid August. SL below the recent swing low and Target level calculated from the base of the triangle.
The idea and the overall trade set-up will become invalid if the break will not happen in the next 4 -5 hours.
Good luck to all!
Note
Follow me and like this idea if you agree with my trade set up!Note
Check out my other ideas, and subscribe if you want to receive similar signals.Thanks to all.
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.