XRP Bullish, Inverse Head & shoulders, break of resistance. LONG
Just a quick one. XRP getting its Bull on.
Points of interest:
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
Points of interest:
- XRP had tested this supply zone 5 times since it became resistance in AUG 2019.
- Given the market conditions and overall bullishness I suspect XRP will easily blow threw the resistance and test the .51c level.
- The Break of the neckline for the inverse head and shoulders gives a target that is in confluence with the .51c target.
- A break below the descending trend line will be the signal to exit this trade
- Currently a R:R of around 1:10, this will decrease depending on how long it takes to play out.
Never Trust. Verify.
D.Y.O.R. Not Financial Advice, this is my trading journal.
Always remember: Technical Analysis is not about being right, it's about increasing your odds.
Be prepared to be wrong. Risk management is key. Capital preservation above all else.
