Description
⋅ Reasons to consider a short sell:
- Rising wedge formation indicates fewer buyers on each re-test of trend line
- Pop out the top of rising wedge into a previous consolidation zone that trigger a sell off during May (supply zone)
- Risk to reward (4:1) meet's criteria and allows multiple profit targets
Trade active
⋅ I've moved stops to BE already to lock in a free trade. At a minimum half risk
Trade active
⋅ Target 1 hit! Trailing stops to lock in profits
Trade active
⋅ Possible head and shoulders pattern. Another bearish sign. Could see a retracement to the neckline before continuation to target 2
Trade active
⋅ Another rising wedge pattern on 15min:
Trade closed manually
⋅ Out of position on trailing stop. Locked in profits. Also note something is definitely cooking on XRP/USD. A lot of accumulation.