Trade_nation

Long position on Ripple XRP

Long
BITSTAMP:XRPUSD   XRP / U.S. Dollar
Price is closed to a resistance level which it retraced of 11 days before.
There Is a bullish engulfing candle at 0.28225.
Confluences:
When using three EMA's the shortest period on is on top and the longest is at the bottom.
The candle crosses over the 8 EMA .
When price previously reached fib level 0.236 it carried this bullish momentum up to the resistance.
NOTE: there is a possibility that price will retrace after hitting the resistance level so RISK management is KEY.

Comments