Ripple (XRP): Trading the Breakout

21 mag 2018

Ripple is absolutely great when it comes to breakout pattern. Here we are presented with two possible scenarios:
1. The break to the downside (7-11% potential) implies the formation of a standard 5--waves Triangle;
2. The break of 0.70 pivot area will pave the way to 7708-7800 (9.5% potential). This would imply the formation of Inverse Head&Shoulders pattern.
The trigger levels are presented on the chart.

21 mag 2018

Nota

Wave D is likely in place. Mind that it can still be a 4-wave pattern (bullish).

22 mag 2018

Nota

Trendline re-test:

23 mag 2018

Trade chiuso: obiettivo raggiunto

Target reached, +8%.
More downside later.