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tradeformula
Apr 26, 2018 2:30 PM

LONG Big XRP Move incoming Pt. 6 Long

XRP / U.S. dollarBitstamp

Description

XRP took an unexpected dip after breaking through the yellow rectangle I had established- but after all, it had exceeded my expectations by using the top of the rectangle as support rather than resistance, as expected. I do expect that we'll see more of a drop, which would put the daily stochastic into an oversold position, aligning with a support established at the beginning of the month. Target is 1.10. Solid risk to reward ratio on this one.
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