BITSTAMP:XRPUSD   Ripple / U.S. Dollar
On the 15 minute Chart, there appears to be a "head and shoulder" formation in the works. If this holds true, then the target Short is .57 and this would be the retest. It is possible the to go lower.
Comment: This is an Update to expand the zone for the possible head and shoulders
Comment: If this breaks below 73, then expect a retracement to neckline!
Comment: OK here is a tighter version.
Neckline 70, nest stop if a break at 62, the 58 Alerts are set! expect a below 58 to 48 range. This could also be a retest of the recent low eventually.

Comment: Holding True
Comment: Technically this failed to form the right shoulder in a symmetrical manner. Therefore, I call bust. However, this may still go to the down side......
You are wrong

I hope I am....I am long holder!
Maybe the pattern failed because of the binance blackout. We'll figure it out in some hours, but the price has ben range-bound ever since.
TomPower rvslmx
@rvslmx, good observation rv, that would make the right shoulder longer, however its underperformed since the big rally , what scares me here is it looks like it might be forming an inverted cup and handle, maybe a buy tonight if no further down move.
+1 Reply
thanks for ta
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