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.
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.
Note
Wave D is likely in place. Mind that it can still be a 4-wave pattern (bullish). Note
Trendline re-test: Trade closed: target reached
Target reached, +8%. More downside later.
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Telegram: t.me/NixTrading
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Сигналы: NixService.net
Агент-аналитик: t.me/NixAgent
Related publications
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.