XRP short opportunity after the drop below $0.5
The recent selling pressure forced XRP prices below $0.5 on Tuesday. However, the trend remained bullish on the daily timeframe.
The structure was flipped bearish on the H4 due to the dip below $0.5, but it only showed a change in character and not structure.
Therefore using the 50% Fib retracement tool, an H1 session close below $0.517 and retest of the same can be used to enter a short
Target is the 23.6% extension level at $0.4725. A move further south is also possible depending on BTC's strength at 25.2k
Entry: $0.517 (after H1 close below $0.517 and subsequent retest)
Stop-loss: $0.54
Take-Profit: $0.4725
Note the idea is only valid after H1 close below $0.517, and remains risky even then due to the rising OBV
The structure was flipped bearish on the H4 due to the dip below $0.5, but it only showed a change in character and not structure.
Therefore using the 50% Fib retracement tool, an H1 session close below $0.517 and retest of the same can be used to enter a short
Target is the 23.6% extension level at $0.4725. A move further south is also possible depending on BTC's strength at 25.2k
Entry: $0.517 (after H1 close below $0.517 and subsequent retest)
Stop-loss: $0.54
Take-Profit: $0.4725
Note the idea is only valid after H1 close below $0.517, and remains risky even then due to the rising OBV
ملاحظة
reached $0.54 then dipped below $0.5 but the $0.47 target was not yet tested
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إخلاء المسؤولية
لا يُقصد بالمعلومات والمنشورات أن تكون، أو تشكل، أي نصيحة مالية أو استثمارية أو تجارية أو أنواع أخرى من النصائح أو التوصيات المقدمة أو المعتمدة من TradingView. اقرأ المزيد في شروط الاستخدام.