Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
XRP has been overall bearish trading inside the falling brown channel.
XRP is currently rejecting a strong weekly support 0.30 so we will be looking for buy setups.
๐น Long-Term: Left Chart
For the bulls to over from a long-term perspective, we need a weekly candle close above 0.6 which would be breaking both the last major high and upper brown trendline.
๐ Medium-Term: Right Chart
For the bulls to over from a medium-term perspective, we need a daily candle close above the orange zone 0.420. And as price approaches the 0.320 support we will be looking for short-term buy setups.
Which scenario do you think is more probable and why?
๐Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
XRP has been overall bearish trading inside the falling brown channel.
XRP is currently rejecting a strong weekly support 0.30 so we will be looking for buy setups.
๐น Long-Term: Left Chart
For the bulls to over from a long-term perspective, we need a weekly candle close above 0.6 which would be breaking both the last major high and upper brown trendline.
๐ Medium-Term: Right Chart
For the bulls to over from a medium-term perspective, we need a daily candle close above the orange zone 0.420. And as price approaches the 0.320 support we will be looking for short-term buy setups.
Which scenario do you think is more probable and why?
๐Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Buy CRGPT on Uniswap
cutt.ly/CRGPT