XRP rally starting ?
Long term analysis - Monthly time frame
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.
Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
XRPUSDT witnessed a completely stunning bullish explosion between March 2017 and January 2018. Since then XRP has been evolving in a multi-years triangle pattern coming to an end. The extremely flat and narrow Bollinger Bands hint at a potential explosive move. First part of this explosive move actually already happened during the last days and price is now encountering the triangle resistance line. This is a strong confirmation of market participant interests, let’s monitor the potential entry point on the lower time frame.Strategy - Short term analysis
All elements for a potential explosive move are gathered. It gives us a nice trade setup with a very good risk reward ratio.
Buy on the break of the triangle resistance at 1.20$.
- Objective 1: back to the next resistance at 1.70$ (+40%)
- Objective 2: Following resistance at 3.25$ (+170%)
- Objective 3: ATH at 18$ (+1400%)
Invalidation
Mental Stop: below the last low of 1.05$
If prices retrace to this level we will wait for the daily close price then set a Stop loss ¼ or Risk below the weekly close price.
Transaction en cours
Buy signal was given, let's monitor this trade closely 🚀Note
Objective 1 has been reached ✅
Let's take our first profits with 40% gains and secure our position to target the next objectives.
Note
Objective 2 has been reached ✅
Let's take some nice profits with 170% gains. Let the rest target the next objective.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.