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InvestingScope
Jul 9, 2018 7:23 AM

Consolidation broken but downtrend bias quickly resumed. Short. Short

XRP / DollarBitfinex

Description

The 1H Rectangle broke but after the 4H Channel Down was broken (formation break out), XRPUSD the downtrend was swiftly resumed. 4H extends its consolidation on neutral RSI = 50.090, CCI = 24.4569, Highs/Lows = 0.000 and is limited to a maximum possible extension on the 1D Channel Down (blue dotted lines on RSI = 42.063, MACD = -0.021, B/BP = -0.0114) at 0.52000. New shorts have been added as our approach remains SOER on this bearish 1W Channel on Ripple (Highs/Lows = -0.0849). TP intact: 0.4000 and 0.35277.
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