Long
XRPUSD: Bullish Impulse after the Pattern's BREAKOUT
Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair:
XRP/USD
⚪Technical Analysis:
Since the 1st of February 2021, the price has been following an interesting trendline, creating with its previous high at about 0.75300 a symmetrical triangle pattern (see the lower highs and higher lows).
On the 12th of February, the price broke a daily S/R zone at about 0.52500 and it re-tested the same level few days later, without breaking the trendline.
It is currently moving bullish, approaching to the dynamic pattern's line.
🔴Conclusion:
I'm confident to follow the current uptrend, so I'll be waiting for a proper breakout of the triangle pattern before getting a long position on this trade.
I would suggest to be aware on the resistance level at about 0.63600, but in a long view I believe will reach its previous high at 0.75000!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
🟢Forex Pair:
XRP/USD
⚪Technical Analysis:
Since the 1st of February 2021, the price has been following an interesting trendline, creating with its previous high at about 0.75300 a symmetrical triangle pattern (see the lower highs and higher lows).
On the 12th of February, the price broke a daily S/R zone at about 0.52500 and it re-tested the same level few days later, without breaking the trendline.
It is currently moving bullish, approaching to the dynamic pattern's line.
🔴Conclusion:
I'm confident to follow the current uptrend, so I'll be waiting for a proper breakout of the triangle pattern before getting a long position on this trade.
I would suggest to be aware on the resistance level at about 0.63600, but in a long view I believe will reach its previous high at 0.75000!
Stay tuned for Updates and Trading Signals!
What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Trade Safe and Responsibly,
Gianni
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.