Wait for that triangle break on the upside to enter a position on the BITSTAMP:XRPUSD
• H4 Descending / downtrend TL break & Ascending confirm. • Pin-bar on yellow box support (bullish confirm). • Overall my bias : LONG to 6500 and 8000 @tradersmind
XRP is already up over 100% since breakout and has formed a beautiful bullish pennant . The bottom of the pennant has been my accumulation zone, as this provides a very tight stop loss. I am in hopes that XRP breaks the top of the pennant here shortly. Instead of using a break in the accululation zone as my stop loss, I plan to use a break through .72. This is...
Followed by a correction eventually. 0.618fib≈ 200 day moving avg needs to catch up
After making a huge run the last few days Ripple is now consolidating and forming a pennant pattern. For anyone looking to buy, I would wait for a breakout to the upside.