XRP/USD: Bullish Continuation from Falling Wedge Formation Description:
Current Setup:
I am still holding my trade on XRP/USD, targeting 3.3901. The pair is currently consolidating within a wedge-like structure, a classic falling wedge. This pattern often signals a continuation of the prevailing bullish trend.
Why Bullish Bias?
1. Liquidity Grab: Price swept multiple lows during this consolidation phase, confirming liquidity inducement.
2. Trend Continuation: Higher timeframe analysis aligns with bullish intent, and this wedge structure adds confluence for a push toward my TP.
3. Institutional Order Block: Price perfectly tapped into the 4H institutional order block, validating my entry point at 2.8887.
Expectations:
As the consolidation narrows, I anticipate a breakout to the upside, driving price toward my target. I’ll be monitoring how price reacts near the wedge breakout for confirmation of momentum.
Key Levels:
• Entry: 2.8887
• TP: 3.3901
• SL: 2.6529
What’s Next?
If price maintains bullish momentum after breaking the wedge, it could signal additional opportunities for continuation trades. Stay tuned as I update progress on this trade!
Bless trading!
