XRP Daily Context
I can see an ascending triangle (equal highs and higher lows) and an inverse head and shoulders in the chart. Target is ~0.30.
Invalidation level would be daily candle closing below ascending triangle structure, just below .382 fib level. If this were to happen the price would re-enter the downtrend channel and the ascending triangle would be invalidated.
Very clear levels.
This is not investment advice, just my opinion about the current context.
Invalidation level would be daily candle closing below ascending triangle structure, just below .382 fib level. If this were to happen the price would re-enter the downtrend channel and the ascending triangle would be invalidated.
Very clear levels.
This is not investment advice, just my opinion about the current context.
Note
Keeping a close eye on today's and tomorrow's closing, to see if the upward triangle is confirmed (purple line).Personally I think we are witnessing the retest of the downtrend channel (black dashed line) after the breakout. I hope this is a new higher low, therefore I expect an upward expansion in the short term.
Trade closed: target reached
So it was. I closed it at 2.618 so I missed some profits.
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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.