Lcho07

XRP/USD Breaking Down from Year Long Descending Triangle!

Short
KRAKEN:XRPUSD   XRP / U.S. Dollar
XRP/USD has broken down below the descending triangle support that has held up for over a year! This is a significant break down which I am targeting lows of ~$0.10. This is a projection based on the height of the descending triangle projected down (~65%).
Comment: Well I didnt trade this, but that worked out pretty well... Expecting more downside from here. $XRP /$USD

Comments

Wouldn't this only count as a breakdown on ur chart when/if the candle closes, not a quick wick drop down?
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Lcho07 TheLuckyNoob
@TheLuckyNoob, theoretically yes, but since this wick passed all previous wicks, plus large volume, and a 15% decline, this validated my criteria that it is a valid breakdown.
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@Lcho07, Okay, thanks for clarification.
+1 Reply
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