EliteFxAcademy

XRP short example on 15 minutes timeframe read description

Short
BITFINEX:XRPUSD   XRP / U.S. Dollar
If bitcoin moves market down (breaking on 6170 support), then Ripple might go with it, even if those two are not in very same correlation. Total market will go down.

In Ripple's case price failed 3rd break out from H4 resistance level . which is so embaracing and lazy movement on buyers side. Ripple is might be waiting for bitcoin move or it could be anything, but to fail 3rd time. then we should start looking for sell position. But this is different, because we will try to catch this bearish test on 15 minutes timeframe, to see how momentum will react on lower support levels xrp might be going to test it.

Break out has to be clear like we draw in our analysis.

Targets are first and second but because of downtrend, who said that price is not able to test even lower targets. (more in suggestions trading room on how to act for the right moment decision*)


Elitefxacademy