TheSignalyst

Ripple - XRPUSD top-down Analysis

CURRENCYCOM:XRPUSD   XRP / U.S. Dollar
on Daily: Ripple is formed a head and shoulders pattern, so we are waiting for a momentum break above its neckline in gray to buy this one long-term

meanwhile, until the buy is activated, we would be overall bearish and looking for trend-following sell setups.

so we are waiting for a third swing to form around our lower blue trendline to consider it valid and sell on its break downward.

Best of luck!
This analysis is done using RichTL indicator
http://www.RichTL.com

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Comments

These two possibilities I watched also in the structure, thanks for sharing.
+1 Reply
TheSignalyst VincePrince
@VincePrince, great that we share the same view. keep up the good work!
Reply
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