After breaking out from a trading range, XRP retraced and found strong support. Yesterday it made a new 57 days high. I like buying strength and selling weakness when trend following, but since I missed my entry yesterday, and both weekly and daily momentum are still strong, an entry here is still in order.
Again, using current volatility (in the form of 1x Daily ATR) and recent support, I arrive at my stop loss which looking at the chart makes a lot of sense and should be well protected.
Again, using current volatility (in the form of 1x Daily ATR) and recent support, I arrive at my stop loss which looking at the chart makes a lot of sense and should be well protected.