Sologenic $XRP: Potential A+ Setup with ConfluenceSologenic CRYPTOCAP:XRP : Potential A+ Setup with Confluence
Risk to Reward: 7.2
Trade Setup:
• Entry: 0.27305
• Stop Loss (SL): 0.23111
• Target: Based on pattern completion and fib levels
Key Technical Confluences:
• 0.786 Fibonacci Retracement
• Order Block
• Cypher Harmonic Pattern
• Larger Gartley Pattern Confluence
Chart Analysis:
We have a strong potential entry for CRYPTOCAP:XRP (Sologenic) here. The price is aligning with several key technical levels:
1 0.786 Fibonacci Retracement: A critical level where price has historically found support and reversed.
2 Order Block: A key zone where institutional buying is likely to have occurred.
3 Cypher Harmonic Pattern: A pattern suggesting a high-probability reversal at this level.
4 Larger Gartley Pattern Confluence: Additional confluence to strengthen the case for reversal at the .786 level.
Trade Plan:
• Wait for Reaction at Key Level:
Important – Wait for price to react at the 0.786 Fibonacci retracement level. Look for signs like bullish candlestick patterns, price action confirmation, or a bounce to validate the entry before jumping in.
• Entry: If price reacts at the 0.786 level, enter at 0.27305.
• Stop Loss: Set a tight stop loss at 0.23111.
• Take Profit: Target based on harmonic pattern completion and fib extension levels.
What If Price Doesn’t Reach the Key Level?
If price doesn’t come down to the 0.786 Fibonacci level and you miss the entry, don’t chase the market.
• Patience is key: Wait for the next opportunity to align with your strategy. You may miss one entry, but there will always be other setups.
• No FOMO: Chasing a trade when the setup isn’t there can lead to poor risk management and unnecessary losses. Always stick to your plan and your levels.
Educational Purpose Only
📉 Disclaimer: This post is for educational purposes only and not financial advice. Trading involves significant risk. Always do your own research
