Reasons to consider a short sell:
- Rising wedge formation indicates fewer buyers on each re-test of trend line
- Pop out the top of rising wedge into a previous consolidation zone that trigger a sell off during May (supply zone)
- Risk to reward (4:1) meet's criteria and allows multiple profit targets
Trade active
I've moved stops to BE already to lock in a free trade. At a minimum half riskTrade active
Target 1 hit! Trailing stops to lock in profitsTrade active
Possible head and shoulders pattern. Another bearish sign. Could see a retracement to the neckline before continuation to target 2Trade active
Another rising wedge pattern on 15min:Trade closed manually
Out of position on trailing stop. Locked in profits. Also note something is definitely cooking on XRP/USD. A lot of accumulation.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.