XRPUSD D1: 50% correction warning S/R WEAK 60c(SL/TP)(NEW)

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XRPUSD D1: 50% correction warning S/R WEAK 60c(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.
NOT a setup to SHORT XRPUSD. Just showing
signs of weakness and recommend to stay out
of this market into the correction.

🔸 Summary and potential trade setup
::: XRPUSD daily chart review
::: updated/revised outlook
::: expect cycle low at 6-8 cents
::: later July/August 2022
::: weakness will last for 4-8 weeks
::: LOG SCALE chart
::: not a great looking chart
::: 60 cents S/R level is WEAK NOW
::: S/R was re-tested produced WEAK bounces
::: price/ RSI div very clear on D1/H8 TF
::: also noteworthy sequence of lower highs
::: pullback required to attract
::: new buyers from the lows
::: 40-60% correction possible next
::: 4-8 weeks in May/June 2022
::: right now no upside in this market
::: position traders should wait for
::: better entry prices later after
::: correction MODE up next
::: be careful don't get caught up in this
::: also overextended right now
::: BULLS remain on sidelines and
::: be ready to BUY LOW later
::: recommended strategy: SHORT SELL RIPS/RALLIS
::: TP BEARS is +50% gains - near 30/25 cents
::: BULLS stay out until correction is over
::: SWING TRADE: SHORT/HOLD IT
::: correction run not over yet
::: good luck traders!
::: BUY and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION
::: Sentiment short-term: BEARS/CORRECTION

RISK DISCLAIMER:
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight stop loss.

Yorum:

cratering nasty dump today wow!