Hello everyone!
So tonight we're covering XRP on a quick update from the H4 perspective.
1. As we can see the price broke the trendline and is giving sign of a retest near the 0.382 fib level and the minor support which align perfectly
together and gives us a bull sign.
2. The price is above 20 and 50 MA but rejected the 200 MA which acted as a support and drove price back to the retest zone, from the H1 the price
is above all MA and is giving a strong bullish sign from that short term level and the MACD indicator is giving signs of bullish moves.
3. The first target will be the major support which will lead us to 155 pips, around that time we'll see if the price break or hold that level of support
which will give us an entry point to jump at the -1.618 fib level.
4. The worst scenario would be a fake breakout of this trendline which we all know this could happen, there is no 100% in this game so this is
normal, use a good R;R ratio so you don't get hurt.
So tonight we're covering XRP on a quick update from the H4 perspective.
1. As we can see the price broke the trendline and is giving sign of a retest near the 0.382 fib level and the minor support which align perfectly
together and gives us a bull sign.
2. The price is above 20 and 50 MA but rejected the 200 MA which acted as a support and drove price back to the retest zone, from the H1 the price
is above all MA and is giving a strong bullish sign from that short term level and the MACD indicator is giving signs of bullish moves.
3. The first target will be the major support which will lead us to 155 pips, around that time we'll see if the price break or hold that level of support
which will give us an entry point to jump at the -1.618 fib level.
4. The worst scenario would be a fake breakout of this trendline which we all know this could happen, there is no 100% in this game so this is
normal, use a good R;R ratio so you don't get hurt.
Trade closed: target reached:
The first target is achieved.
Now let's see if the major resistance will hold the price or push it to the second target.
Now let's see if the major resistance will hold the price or push it to the second target.
Trade closed: target reached:
Second target reached.
The market followed every step that I predicted, now let's wait for the market to give us the next opportunity.
As we can see bulls are still running!
The market followed every step that I predicted, now let's wait for the market to give us the next opportunity.
As we can see bulls are still running!