Ripple: Breakout and Reversal Signals for Buying

The market is going to provide trade opportunities based on two different types of signals. The price reached the main SMA200 and bounced from it. We have a local swing high, which can be used as a signal level in combination with a breakout. If the price break this point, it will be a signal for buying.

If the price continues the downward movement, it will be possible to wait for a reversal signal from the support zone at 0.18 level. This variant looks realistic as RSI and MACD histogram gives us bearish signals.

Stop orders for all long trades must be placed below the local swing lows and the support lines and levels. Profit targets are 0.25 and 0.35 resistance zones.



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Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.