Not a financial advisor. This is just for information purposes.
Currently looking at a possible Cup and Handle formation near support (from the channel developed since March) on the XRPUSD Daily.
In case it breaks the neckline, XRPUSD has a possible target near the 0.30 (high 0.29's).
I would put a stop loss below the handle. This would mean a 3:1 Risk Reward.
Currently looking at a possible Cup and Handle formation near support (from the channel developed since March) on the XRPUSD Daily.
In case it breaks the neckline, XRPUSD has a possible target near the 0.30 (high 0.29's).
I would put a stop loss below the handle. This would mean a 3:1 Risk Reward.
Note
I am not 100% certain whether this is a Cup & Handle or not. Regardless I see possible break of resistance from the previous candle closes while price is near channel support.
I say "possible break" as we need to wait about 3 hours to get the daily close.
Note
interesting move!Trade closed: target reached
Target reached.Surely there are targets above this one,
mainly looking at the top of the channel...
(Good luck)
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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.
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.