XRP Triangle Breakout Trade Idea #XRP

8 Kas 2021

A symmetrical triangle occurs when the up and down movements of an assets price are confined to a smaller and smaller area over time. A move up isn't quite as high as the last move up, and a move down doesn't quite reach as low as the last move down. The price moves are creating lower swing highs and lower swing lows.

XRP is showing a fantastic breakout to the upside. There is 3 very strong patterns that have happened:
1-Triangle Breakout
2-A retest of the breakout
3-Bull Flag formed from the Breakout with the 3 Red Inside Candles.

How I like to trade:
Best Entry is the retest of the breakout

StopLoss: In this case, we have a Clear StopLoss below the 3 Red Candles

Targets: 1 at 50% and target 2 at the full measured move.


Happy trading.

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