XRPUSDT 1D long setup; Cup&Handle breakout
TA explained
XRP formed a Cup&Handle pattern on the 1D timeframe. Broke out the handle some time ago already, did a retest of the breakout level with a strong wick down on Oct 27.
Since then an uptrend has been forming. Anticipating the trend to continue in the upward direction. Ultimate target would be the Cup&Handle final breakout level.
Trade setup
Best entries: 1.1690 - 1.2397
TP1: 1.6184
TP2: 1.9250
TP3: 2.2704
SL: 1.0290
RR: 6.0
Max leverage: 1
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MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)
XRP formed a Cup&Handle pattern on the 1D timeframe. Broke out the handle some time ago already, did a retest of the breakout level with a strong wick down on Oct 27.
Since then an uptrend has been forming. Anticipating the trend to continue in the upward direction. Ultimate target would be the Cup&Handle final breakout level.
Trade setup
Best entries: 1.1690 - 1.2397
TP1: 1.6184
TP2: 1.9250
TP3: 2.2704
SL: 1.0290
RR: 6.0
Max leverage: 1
—————
MDSquared Crypto Lounge
—————
Do Your Own Research (of course)
Trade at own risk (of course)
Only trade what you can afford to lose (of course)