XRPUSD H16: 30% DUMP short it TP 30 CENTS(SL/TP)(NEW)

27 gru 2022

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XRPUSD H16: 30% DUMP short it TP 30 CENTS(SL/TP)(NEW)
IMPORTANT NOTE: speculative setup. do your own
due dill. use STOP LOSS. don't overleverage.

🔸 Summary and potential trade setup
::: XRPUSD 16hours chart review
::: updated/revised outlook
::: BREAKDOWN OF BEAR FLAG SETUP
::: distribution in range / weak chart
::: limited upside / expect dump from HIGHS
::: weakness will last for 4-8 weeks
::: LOG SCALE chart
::: not a great looking chart
::: FAKE PUMP possible and breakout
::: however most likely BULL TRAP SETUP
::: CLEAN REJECTION AT recent highs / S/R
::: S/R was re-tested produced WEAK bounces
::: final BOUNCE possible now before DUMP
::: also noteworthy sequence of lower highs
::: recommended strat: SHORT near 40/42cents
::: final TP BEARS is 25CENTS TP1 is 30 cents
::: 35-40% correction possible next
::: limited upside from here don't get trapped
::: right now limited upside possible
::: position traders should wait for
::: better entry prices later after
::: the fake breakout of recent highs
::: recommended strategy: SHORT SELL RIPS/ RALLIES
::: TP BEARS is +40% gains - near 25cents
::: BULLS stay out until correction is over
::: SWING TRADE: SHORT/HOLD IT
::: correction run not over yet
::: good luck traders!
::: BUY and get paid. period.
🔸 Supply/Demand Zones
::: N/A
::: N/A
🔸 Other noteworthy technicals/fundies
::: TD9 /Combo update: N/A
::: Sentiment mid-term: BEARS/CORRECTION/40%
::: Sentiment short-term: BEARS/breakdown of BEAR FLAG

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