XRPUSD -- Ripple in Reversal......Completed 90%
A. Major Head and Shoulder pattern in D1. Neck formation completed. Right shoulder formation in progress.
B. Reversal pattern in head part. Start of right shoulder....
1.Prior Down trend.. Represented by slanting trendline
2. Reversal Pattern - Inverted Head and shoulders at major support ( Zoom the chart)...Horizontal red line.
3. Change of character.. Higher highs.
4. Head retracing to golden Fibonacci ratio (F6)
Next Steps: Waiting for targets to reach marked around Fibonacci levels ..
Entry: around 2.19
Initial targets : 3.055 and 3.438
stop loss: 2.02
A. Major Head and Shoulder pattern in D1. Neck formation completed. Right shoulder formation in progress.
B. Reversal pattern in head part. Start of right shoulder....
1.Prior Down trend.. Represented by slanting trendline
2. Reversal Pattern - Inverted Head and shoulders at major support ( Zoom the chart)...Horizontal red line.
3. Change of character.. Higher highs.
4. Head retracing to golden Fibonacci ratio (F6)
Next Steps: Waiting for targets to reach marked around Fibonacci levels ..
Entry: around 2.19
Initial targets : 3.055 and 3.438
stop loss: 2.02
Trade closed: target reached
Stop loss hit.. Trade closed
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.