tradingmotives

Potential Triangle correction then new highs

Long
KRAKEN:XRPUSD   XRP / U.S. Dollar
A correction is unfolding after a strong thrust from an earlier triangle. The current correction could morph into a number of different forms including a combination, or ascending triangle . Monitor support shown adjacent to pink line.
Comment: break > horizontal resistance
Comment: SL at 0.8888

Comments

Timing is not easy to predict. I prefer to monitor support and resistance, but at this time of year, the market liquidity can diminish, so the correction might take longer. Thanks for the question. Sorry I couldn't give you a firm answer.
Reply
Thanks!
Do you think the 0.84 barrier will fall in the next hours?
Reply
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