Decent R:R for Ripple
Placing an order above .25
If there is a breakout above top of the triangle, I expect a quick run up to the .786 fib around .265 is the first target. Second Target is .28, the recent swing high.
I expect some consolidation around this level, so I will exit to free up funds for more attractive R:R
Placing an order above .25
If there is a breakout above top of the triangle, I expect a quick run up to the .786 fib around .265 is the first target. Second Target is .28, the recent swing high.
I expect some consolidation around this level, so I will exit to free up funds for more attractive R:R
Trade active:
Looks like we broke through .25 about 4 hours ago. My pending ordered filled and we are off to the races.
Adjusting stop-loss to .245, which is just below the .5 fib.
The trade is now very attractive at a 5:1 reward to risk ratio.
If you missed out on the first breakthrough, this retest is a great place to jump in due to the much closer stop.
Happy trading!
Adjusting stop-loss to .245, which is just below the .5 fib.
The trade is now very attractive at a 5:1 reward to risk ratio.
If you missed out on the first breakthrough, this retest is a great place to jump in due to the much closer stop.
Happy trading!
Trade closed: stop reached:
Stopped out at .245.
Seems the sharp dip was marketwide. Some are speculating it was a panic dip on BTC regulation news out of UK.
While the pattern has been invalidated, a strong break above .25 would suggest we are continuing upward with the previous targets.
Seems the sharp dip was marketwide. Some are speculating it was a panic dip on BTC regulation news out of UK.
While the pattern has been invalidated, a strong break above .25 would suggest we are continuing upward with the previous targets.