Perfect bearish bat pattern formed (1hr candle) + 0.618 retracement (daily candle)
XRP rallied really good up to 0.618 retracement (0.525) in daily candle chart from the previous high (062435).
Now XRP is doing distribution in my opinion in 1hr candle chart and I'm expecting to go down from 0.618 (0.495) ~ 0.886 (0.5157) to all the way down to 0.3 area.
Stop loss should be 0.525
XRP rallied really good up to 0.618 retracement (0.525) in daily candle chart from the previous high (062435).
Now XRP is doing distribution in my opinion in 1hr candle chart and I'm expecting to go down from 0.618 (0.495) ~ 0.886 (0.5157) to all the way down to 0.3 area.
Stop loss should be 0.525
Note
I will exit at 0.454 and re-enter the positionNote
I might long at 0.454Note
Okay my order got filled in 0.46I will short at 0.5 area again
Note
stop loss should be 0.44788Note
I got out of my long position with small profit.volume's too low and might not forming another harmonic
I will get in short again if price fall below 0.454 support region
Note
Okay there is no clear sign of bounce yetCurrently just bear mark up
Trade closed: target reached
target reached
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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.