mariobenitez1618

XRPUSD Technical Analysis 4 hour - Buy opportunity!

KRAKEN:XRPUSD   XRP / U.S. Dollar
Hi there.

Current state:

Got in earlier today at $0.48271 - However it is not too late to still get in.

Indicators/Charts analysis:

  • RSI is in the oversold boo.
  • Renko (ATR -14) shows uptrend
  • EMA 12 about to cross EMA 26
  • Candle sticks show an up trend.
  • Stoch RSI in overbought
  • RSI shows an up trend, confirming renko
  • Awesome indicator about to cross 0 in the up direction. This indicates a move up.
  • Price is moving above BB media

Stop Loss:

$0.46051 (-4.5%)

Target:

$0.51721 (+7.1%) - Target was selected based on current volume profiles and Fib retractments.
Will watch trade closely. Usually price will move above EMA 12. Will look to get out at target price and start using a sliding stop loss as we approach target.

Alarms:

None at the moment.

Conclusion:

Enter trade. Indicators show that there is a good probability price will go up for the 4 hour period.

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***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.**
Trade closed: target reached: Target was reached. We are currently out. Nice 7.1% profit. Will post my technical analysis later