Trading smaller time frames on XRP at the moment and looking for a Bear flag forming on the smaller time frames, zoomed in on the 2h chart simply to get a better idea of price action with in the flag to determine a potential Elliot wave playing out inside the flag.
I'm personally not huge on break outs and much prefer to use an aggressive entry style to get in at the top of the flag with a much tighter stop loss to offer a much higher Risk to reward and then rely on the break out traders for momentum if the bottom of the flag breaks.
Not overly confident so only risking .5R on this for now and might not present the ideal entry until tomorrow so will keep an eye on it for now
I'm personally not huge on break outs and much prefer to use an aggressive entry style to get in at the top of the flag with a much tighter stop loss to offer a much higher Risk to reward and then rely on the break out traders for momentum if the bottom of the flag breaks.
Not overly confident so only risking .5R on this for now and might not present the ideal entry until tomorrow so will keep an eye on it for now