jacobcanfield
Long

XRP Scalp Opportunity with a 6.6RR and a 50-60% profit potential

BITMEX:XRPH19   None
Good morning traders!

I've found a nice quick scalp opportunity on XRPH19 after we had a nice retest of previous resistance before the breakout.

XRPH19 on Bitmex has low liquidity, so it's a higher risk trade but I like the support it's held so far and I've bought these S/R flips before for nice profits on the bounce.

I'm looking at a 10X leverage trade with a trailed take profit when and if we get the bounce.

Targets are ideally the .618 and the .786 on the bounce.

Good luck and happy trading!

Remember:
If the chart is old, don't trade off of it.
This is only for research purposes only.
Manage your risk with stop losses and correct position sizes.
Trade active: The 23.6% fib level was reached for 16% profit on 10X and 32% profit on 20X.

Trade is still open with a trailed stop loss to 8050 to lock in at least a 5% profit.

Continue trailing your stop as the trade moves. :)
Comment: Stopped out for profit after taking some off at the top as well.

Re-entered again with a new stop for this ascending triangle pending a bullish breakout.

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Hi Jacob can you please make an updated chart for xrpusd. Keep up the excellent work...
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wtf :D. wait for it to trail below the stop. lol lol lol. thats not a trading idea, thats more of a pump and dump idea.
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jacobcanfield Kehrmaschine
@Kehrmaschine, Trail your stop loss as the trade moves in our favor. Meaning, lock in profits.
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Between yourself and Alan, I think you’re posts might have spurred this possibly last ditch type rally!!
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I would be cautious with XRP currently. It is dragged higher through correlation by the rest of the market. LTC & others are lead bulls, not Ripple. I made an extra 'Macro Analysis' video on XRP/USD, where can see clearly that we are descending & pretty weak. I also talked about it again today. Have a look:
+1 Reply
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