XRP rally starting ?
Long term analysis - Monthly time frame
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.
Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
- Objective 1: back to the next resistance at 1.70$ (+40%)
- Objective 2: Following resistance at 3.25$ (+170%)
- Objective 3: ATH at 18$ (+1400%)
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
İşlem aktif
Buy signal was given, let's monitor this trade closely 🚀Not
Objective 1 has been reached ✅
Let's take our first profits with 40% gains and secure our position to target the next objectives.
Not
Objective 2 has been reached ✅
Let's take some nice profits with 170% gains. Let the rest target the next objective.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.