Hi traders and welcome to my channel, if you enjoy my FREE Technical Analysis📈 and Trading Tips📉, support the idea hitting the LIKE👍 button and don't forget to SUBSCRIBE✔️ my channel, you won't miss anything!
🟢Forex Pair: XRP/USD
⚪Technical Analysis: Since the 1st of February 2021, the price has been following an interesting trendline, creating with its previous high at about 0.75300 a symmetrical triangle pattern (see the lower highs and higher lows). On the 12th of February, the price broke a daily S/R zone at about 0.52500 and it re-tested the same level few days later, without breaking the trendline. It is currently moving bullish, approaching to the dynamic pattern's line.
🔴Conclusion: I'm confident to follow the current uptrend, so I'll be waiting for a proper breakout of the triangle pattern before getting a long position on this trade. I would suggest to be aware on the resistance level at about 0.63600, but in a long view I believe will reach its previous high at 0.75000!
Stay tuned for Updates and Trading Signals! What's your opinion? Share your idea writing a comment!
⚠️Please note the views are not investment advice and should be used only for educational purposes⚠️
Thanks for sharing