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Raul_Dominguez
Jun 16, 2020 6:52 PM

Possible Inverse Head & Shoulders Pattern on XRP Long

COINBASE:XRPUSD60
XRP / United States DollarCoinbase

Description

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COINBASE:XRPUSD

As you can see in the chart, there is a possible Inverse Head & Shoulders Pattern on the Hourly Chart. A move above $0.1943 USD would be required to confirm the patter. If it does, the price target would be around the $0.2070 USD.

freeonlinetradingeducation.com/inverted-head-and-shoulders.html

Also, there is a Positive MACD Divergence, where the indicator is going up, while the price was going down, which is bullish.

I hope you find this interesting and good luck to you

Trade active

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We broke the $0.1943 USD level. Inverse Head & Shoulders Pattern confirmed.

Minimum target at $0.2070 USD, but we could easily go up the $0.2120 USD level, where the 200 Day Moving Average lies.

Stop at $0.1894 USD.

We broke the neckline, and now, we are testing it back again, all well so far.

Good Luck to You

Trade active

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Still active, didn't hit stop, close, but didn't.

Trade closed: stop reached

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Comment

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Second try at $0.1908 stop $0.1887

Trade closed: stop reached

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Head and ShouldersOscillatorsxrpusdripplexrp
Comments
JacquelineViola
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Good job
Raul_Dominguez
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@JacquelineViola, thanks.
UnknownUnicorn7096092
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Nice work
Raul_Dominguez
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@nusratjahan, thanks.
VincePrince
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This is what I will be monitoring in the XRPUSD at the moment, interesting pair
Raul_Dominguez
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@VincePrince, thanks for sharing.
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