$XRP/USDT 1D (Binance Futures) Descending trendline breakout
Updated
Ripple is ranging inside a big symmetrical triangle for a whole semester now, prepare for some action!
After that rejection on 200MA, retesting the 50MA then going toward upper-line is quite probable.
Current Price= 0.7239
Buy Entry = 0.6987 - 0.6435
Take Profit= 0.8066 | 0.9297 | 1.0718
Stop Loss= 0.5578
Risk/Reward= 1:1.2 | 1:2.28 | 1:3.54
Expected Profit= +20.19% | +38.53% | +59.71%
Possible Loss= -16.88%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 2 months
After that rejection on 200MA, retesting the 50MA then going toward upper-line is quite probable.
Current Price= 0.7239
Buy Entry = 0.6987 - 0.6435
Take Profit= 0.8066 | 0.9297 | 1.0718
Stop Loss= 0.5578
Risk/Reward= 1:1.2 | 1:2.28 | 1:3.54
Expected Profit= +20.19% | +38.53% | +59.71%
Possible Loss= -16.88%
Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 2 months
Trade active
First entry filledRipple dipping to the demand zone, it may go for 2nd entry before bouncing back, be patient!
Trade closed: target reached
TP1 reached with +20.19% (1x) and +1.2RRipple bounced and reclaimed 200MA support, road to higher targets seems likely!
SL moved to 2nd entry (0.6435$) to secure the trade, let's be patient enough.
Trade closed: target reached
TP2 reached with +34.74% (1x) and +2.28RRipple continued the up-trend as expected, SL updated to first entry now (0.6987$).
Trade closed: target reached
TP3 was reached with +57.33% (1x) and +3.54RRipple perfectly hit last target before starting to retrace down, that was precise!
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