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tradeformula
Mar 21, 2018 7:00 PM

Inverse H&S on XRP Long

XRP / U.S. dollarBitstamp

Description

Pretty self-explanatory. I see a potential reverse H&S on XRP. Could lead to a larger rally as XRP is coming from an oversold position on daily as well as still oversold on weekly.

Comment

Watching for Stoch to be oversold on the 1hr or failing that, the 4hr- then for confirmation with MAs. Stay tuned....

Comment

Welp, we gained 2 cents in just 10 minutes. I think we just turned the corner just after I posted this idea

Comment

The previous entry 17 hours ago failed if you had a tight intraday stop- and now our 4hr chart is oversold, and turning over on the intraday, so this is a pretty solid buy for me right now.

Trade active

I'd put my stop at .64 and my target at .79, solid risk to reward ratio of 15:1
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