XRPUSDT 1D long setup; Cup&Handle breakout
TA explained
XRP formed a Cup&Handle pattern on the 1D timeframe. Broke out the handle some time ago already, did a retest of the breakout level with a strong wick down on Oct 27.
Since then an uptrend has been forming. Anticipating the trend to continue in the upward direction. Ultimate target would be the Cup&Handle final breakout level.
Trade setup
Best entries: 1.1690 - 1.2397
TP1: 1.6184
TP2: 1.9250
TP3: 2.2704
SL: 1.0290
RR: 6.0
Max leverage: 1
—————
MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
XRP formed a Cup&Handle pattern on the 1D timeframe. Broke out the handle some time ago already, did a retest of the breakout level with a strong wick down on Oct 27.
Since then an uptrend has been forming. Anticipating the trend to continue in the upward direction. Ultimate target would be the Cup&Handle final breakout level.
Trade setup
Best entries: 1.1690 - 1.2397
TP1: 1.6184
TP2: 1.9250
TP3: 2.2704
SL: 1.0290
RR: 6.0
Max leverage: 1
—————
MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
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.
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.