TradingView
You_and_I
Aug 7, 2020 9:57 AM

Ripple (XRP) Long Lower Time Frame (2H) Pennant Formation Long

XRP / TetherUSBinance

Description

Hello Viewers.

Pennant Formation as a Continuation Pattern are two converging lines containing price action.
Although Symmetrical Triangle has tendency of both the downward or upward movement , on the uptrend its considered as long continuation pattern, though the entry point is only after the confirmation of the breakout.
Potential Target Zones are found through the Resistance Zones of Previous Price Action Data.
RSI forming a double Bottom on the 50 value line in support with MACD reversing the Histogram to green with converging lines.
As Long as we Hold and stay above the 20EMA, 50MA ,100MA & 200MA the Security is in uptrend.

Enjoy!
Comments
whereislucas
Im watching this like a hawk. I just made 20k off xrp last week and would love to do that again. Im setting an alert in my phone because this will be happening while im asleep and I dont trust stop losses or buy orders. Thanks for the input.
You_and_I
@whereislucas thanks for the appreciation.
whereislucas
@usamahassan, INTERESTING V SHAPE COMEBACK
You_and_I
@whereislucas still have to wait to confirm it.
whereislucas
@usamahassan, O yea most definitely. I dont trust any of this movement until it reaches 31500 or even 32500
You_and_I
As discussed in chart, entry is always upon confirmation.
BTC
You_and_I
Indeed the majors are doing very well, still very bullish.
More