Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
As per my last analysis (attached on the chart) we were looking for medium-term buy setups as XRP was sitting around the 0.3 support zone.
The bulls already took over medium-term and now approaching the 0.6 resistance zone.
🏹 Long-Term: Left Chart
For the bulls to over from a long-term perspective, we need a weekly candle close above 0.6 which would be breaking both the last major high and upper brown trendline.
Meanwhile, 0.6 is acting as a resistance zone and the bears can take over for a bearish correction.
Which scenario do you think is more probable and why?
📚Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
As per my last analysis (attached on the chart) we were looking for medium-term buy setups as XRP was sitting around the 0.3 support zone.
The bulls already took over medium-term and now approaching the 0.6 resistance zone.
🏹 Long-Term: Left Chart
For the bulls to over from a long-term perspective, we need a weekly candle close above 0.6 which would be breaking both the last major high and upper brown trendline.
Meanwhile, 0.6 is acting as a resistance zone and the bears can take over for a bearish correction.
Which scenario do you think is more probable and why?
📚Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
This analysis is done using RichTL
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal
www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal