XRP is currently within a massive ABC bull flag. We can see that we can from an impulse and we are creating a big correction and approaching 2 areas of significant interest.
First Area:
- Double bottom (structure)
- 61.8 fibonacci
Second Area:
- Parallel channel support
Both of these areas are key areas to look for reversal and a bounce off.
Trade Idea:
- Watch for price to come down to one of those 2 areas
- Watch for a bounce off
- enter with stoploss below the rejected price
- target parallel channel resistance as first target
- Recent highs as second target
- -0.27 as third target
- HODL the rest
We could potentially get a 50% gain as only first target!
What do you guys think of this? Leave your comments below.
Goodluck!
First Area:
- Double bottom (structure)
- 61.8 fibonacci
Second Area:
- Parallel channel support
Both of these areas are key areas to look for reversal and a bounce off.
Trade Idea:
- Watch for price to come down to one of those 2 areas
- Watch for a bounce off
- enter with stoploss below the rejected price
- target parallel channel resistance as first target
- Recent highs as second target
- -0.27 as third target
- HODL the rest
We could potentially get a 50% gain as only first target!
What do you guys think of this? Leave your comments below.
Goodluck!
