XRP Ripple had a nice breakout over that consolidation level trendline
resistance in December.
In 3 days it rocketed 300% and then consolidated for the last week around that .75 level.
Now we've broken out of that first breakout flag consolidation, to new highs, so it looks strong. Based on the fact that it has made new highs, we can expect a measured move, the same length as the flagpole.
The targets line up around that level as well, being both the 361.8% Fib extension of the May to December consolidation range AND the measured move from the recent breakout.
Therefore, we are long over .82 and taking profits around 1.28.
NOTE: Other charts on other exchanges show slightly different but similar perameters.
Happy trading!
resistance in December.
In 3 days it rocketed 300% and then consolidated for the last week around that .75 level.
Now we've broken out of that first breakout flag consolidation, to new highs, so it looks strong. Based on the fact that it has made new highs, we can expect a measured move, the same length as the flagpole.
The targets line up around that level as well, being both the 361.8% Fib extension of the May to December consolidation range AND the measured move from the recent breakout.
Therefore, we are long over .82 and taking profits around 1.28.
NOTE: Other charts on other exchanges show slightly different but similar perameters.
Happy trading!
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Sign up to TradingView charts:
tradingview.go2cloud.org/SHxi
Sign up for TastyWorks - The Broker of the Future:
start.tastyworks.com/
Twitter:
@BerlinTrader591