Swing Buy opportunity for XRPUSD
Buy limit activated at @ .27250
SL: .26750
TP1: .31565
TP2: .31825**
TP3: .39150
Notes: The last impulse to the upside took a while but played out eventually. The contraction/consolidation we’re seeing now is ideal for strong uptrend that would come - after a heavy fakeout down. There will be more eyes on the market now that big upside potential has been shown, and that also means more aggressive wicks to stop out retail traders. We’ve got a low risk space for order liquidity to hop in the market before a move to the upside after trapping impatient sellers. Patience is the key to big moves in these markets.
Buy limit activated at @ .27250
SL: .26750
TP1: .31565
TP2: .31825**
TP3: .39150
Notes: The last impulse to the upside took a while but played out eventually. The contraction/consolidation we’re seeing now is ideal for strong uptrend that would come - after a heavy fakeout down. There will be more eyes on the market now that big upside potential has been shown, and that also means more aggressive wicks to stop out retail traders. We’ve got a low risk space for order liquidity to hop in the market before a move to the upside after trapping impatient sellers. Patience is the key to big moves in these markets.
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Update: This note was created and sent to a telegram chat on sep. 21 at 3:40 pm, before the market started pushing to the downside. It is slightly out of date now as the the move to the downside has been completed and the limit has activated. Current movement is showing that there may be enough retail players stopped out and price discounted enough for more big buyers to reenter.