Following a successful bearish trade, many XRP holders and potential buyers are looking for a new entry.
Looking at the daily/weekly chart, there's a large inverted H&S pattern just waiting to be bought, which would propel us out of the resistance that has plagued XRP for the past 2 years, and potentially create new all time highs.
Sounds pretty good, right?
We'll see if that happens. I speculate that it will, but of course I could be wrong.
Please let me know your thoughts, and I'll continue making these over the next couple months, tracking XRP's progress.
Trade active
⋅
Trade active
Comment
⋅
Making a nice little trend line, nice initial push from bulls.
Comment
⋅
This is looking more and more like an inverse H&S to me. If this is the case, we should see about .28 by the end of Feb/beginning of March
This price action was expected and not scary because your videos prepared me lol. I also appreciate your honesty about being stopped out by that short idea you had but it was still a great call!
tradeformula
⋅
@Gilvis, Thanks! It looks like this was an accurate call as well, and fortunately not stopped out this time. Considering we're already pushing .24, I don't tend to think we'll see a lower low which will be very encouraging for bulls, and strengthens the overall strategy I'm proposing.
utahdesi
⋅
Good job:) thankyou for the hope!!!
Z3R0Matrix
⋅
EXCELLENT!
Jim_Rohn_88
⋅
Great view man!
tradeformula
⋅
@Jim_Rohn_88, Thank you, I appreciate it. I love your namesake as well! I used to drive to work and listen to Jim Rohn teaching every day for a while.
Z3R0Matrix
⋅
Do you mind if I ask which indicators those beautiful flowing red lines are? EMAs?
tradeformula
⋅
@Z3R0Matrix, If you search for "Madrid MA Ribbon" you'll find it, I don't recall the exact name. I love it, it's a fantastic tool