Ripple - Potential Continuation Pattern - Update on Buy Opp.ies
The minor trend to the upside might be resuming now on
XRPUSD
, as well as on other cryptocurrencies, all of which have to complete the primary upside correction first, before resuming the main downtrend. On Ripple we are expecting the price to at least reach the 0.95. Then, according to how the structure will behave, we will decide if to keep positions or liquidate them and buy later on in time.
From this moment on therefore, we will be looking for buy setups, on Ripple: watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the upside, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
XRPUSD
, as well as on other cryptocurrencies, all of which have to complete the primary upside correction first, before resuming the main downtrend. On Ripple we are expecting the price to at least reach the 0.95. Then, according to how the structure will behave, we will decide if to keep positions or liquidate them and buy later on in time. From this moment on therefore, we will be looking for buy setups, on Ripple: watch out for ending diagonal formations and other price action patterns for an entry point on their break. For a more conservative approach, wait for a first impulse to the upside, wait for a small correction of said impulse on the 60min timeframe, and buy the break of said correction with a stop loss beneath it.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
Comment:
If it makes a 60min flag within the corrective channel, that would make a nice buy opportunity:
Comment:
Then break even and see if it breaks the daily correction for upside.