We can see xrp has almost reached the full breakout target of the pink inverse head and shoulders pattern shown here. There is a much higher projected breakout target for the green symmetrical triangle though. Usually after hitting the initial target when there are 2 or more breakout targets in play, you will se it then have a correction back to previous resistance to retest it as solid support before continuing on to the 2nd higher breakout target. So it is very possible after it hits the inv h&s target it could retrace all the way back to retesting the pink neckline of the inv h&s as well as the 1day 50ma(in orange). It is wise to keep in mind that it will also often keep pumping past the initial target and not stop pumping until hitting the 2nd target as well, so I personally if I was doing any sort of margin or leverage (which I am not), I would dial back my position somewhat and in that sense take some profit once it hit the inv h&s in hopes I could re add the amount I closed out on a successful retest of the neckline, 50ma, or both. However I would still keep a larger portion of the long position open for the chance that it could just continue to pump to the second target without a breath in between. For now though I am personally just hodling. *not financials advice*
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One pattern I left out here because I didnt want to clutter up the chart with too any things is actually a bull flag that makes up both the 2nd half of the head and the entire right shoulder of the inv H&s pattern. The breakout target for the bullflag was hit precisely where the candles started flipping back to red candles as its target was slightly lower than the full inv h&s breakout target. So it turns out our correction happened after the very first bullish target got hit instead of continuing just a half pip higher to hit the inv h&s target then correct.
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Inverse head and shoulder target hit! Very interested to see if it corrects first or instead heads to the symmetrical triangle breakout target next.
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It chose to correct first after hitting the first target. Daily stoch rsi is close to being fully reset.
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Both targets hit!