Long On XRPUSDT.

2021년 11월 22일

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***** This trade idea is on spot trading. I do not recommend futures for this particular trade. *****

* I see potential POI ranging from 0.9764 to 0.7632

* It should be a perfect buying opportunity with stop loss at 0.5239

Reason;

* First of all, you can see perfect cup and handle formation on daily and weekly time frame which indicates Bullish trend coming up soon. Secondly,

* I always use Fib retracement as my basic strategy as well as support and resistance . I see a perfect retracement on golden zone range between 61.8 to 78.6 that is 0.8875 to 0.7632.

* Take profits are just truly based on inverse FIBS

* Note that, take profits after usual cup and handle is different, i will note it down if you wish to follow those take profits and i will explain them why it is set that way;

Take profit 1 is equal to the size of the handle. ie., 1.7810
Take profit 2 is equal to the size of the cup. ie., 3.4928

* Stop loss is set at 0.5239 as it will break 1.00 on FIBS and make a new LL.

* Keep you short loss small and profits big

* This trade is 1:11 risk to reward ratio.

* This is not financial advice. Invest only what you are prepared to lose and do not predict the movements, READ the charts.

Best wishes,

Zaki