[XRPUSD W1 Jun 2021]
XRPUSD
Long Setup
Continuation trade: [XRPUSD W3 MAY 2021]
👉🏻 After last week's bloodbath on all cryptos, Ripple has completed its possible ABC correction and tagged 0.65100 as a 78.6% retracement of the bigger structure. This ABC move consists of a 3-5-3 move from the highs of 0.89246 to the lows of 0.65100. Lower timeframes showing a retrace to the 61.8%, ready for a move upwards.
This move will be the impulsive Wave-3 if it plays out well, short term, a long position could be placed targeting 1.55000 at the top of the channel with an SL of 0.60500, a 1-3 risk to reward ratio.
Long Setup
Continuation trade: [XRPUSD W3 MAY 2021]
👉🏻 After last week's bloodbath on all cryptos, Ripple has completed its possible ABC correction and tagged 0.65100 as a 78.6% retracement of the bigger structure. This ABC move consists of a 3-5-3 move from the highs of 0.89246 to the lows of 0.65100. Lower timeframes showing a retrace to the 61.8%, ready for a move upwards.
This move will be the impulsive Wave-3 if it plays out well, short term, a long position could be placed targeting 1.55000 at the top of the channel with an SL of 0.60500, a 1-3 risk to reward ratio.
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