Seeing a falling wedge pattern emerge on XRP which aligns with strong support. Be sure to use patience and risk/reward ratio in your favor which I discuss in this video- also take a look at smaller timeframes when entering trades.
Thanks for watching, and good luck!
Thanks for watching, and good luck!
Comment:
Note the overbought stoch in the bottom chart, and the attempts and failure to break through the line of resistance- the MA ribbon also is simultaneously bearish. Absolutely going down to the target, which will cause a falling wedge, resulting in a fantastic buying opportunity.
Trade closed: stop reached:
That particular bearish intrabar trade didn't happen- just as well, as the market is pushing more sideways/bullish. Seeing a breakout of that bearish trend is quite positive IMO
Seeing continuation in the falling wedge, expecting price action to reach the target of .308 by the 20th or 21st.
Risk/reward ratio on this move currently as described in the image is 8.69, quite good for a short term move.