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di-trader
Nov 29, 2022 9:04 PM

Possible new impulsive wave for xrp Long

XRP / U.S. dollarBitstamp

Description

This analysis is for educational purposes only.

The price has broken out after testing the same level three times. After this, a retracement took place to the 0.618 level as well as a demand level.

Comment

Daily timeframe

Comments
kosai19
Excellent analysis. I like trading resistance breakouts. If the market stalls and reverses soon after the breakout, then you take the opposite side as it's often a false breakout. I'm trading that currently on the GBPJPY on the daily time frame.
di-trader
@kosai19, given the present divergence, that is not a strange thought.
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