We have a potential long setup on Ripple (XRP), however, we must first wait for confirmation.Current price 0.266cents.
A nice wedge pattern is forming on the Daily chart .
To have a larger view of the chart, just right click on the chart image and select "View Image"
Ripple LongSetup 2017-06-29_8-36-24.png
If price can rise above Kumo and have a breakout of the downward trend line, we have a trigger to go long. Stop loss will be placed at the last low around 21cents (0.2077)
This presents a 3:1 (2.8:1) risk reward
Roadmap for targets :
T1 38c
T2 44c
T3 53c
Analysis by Sean Vengan, 29 June 2017
Hope this helps.
A nice wedge pattern is forming on the Daily chart .
To have a larger view of the chart, just right click on the chart image and select "View Image"
Ripple LongSetup 2017-06-29_8-36-24.png
If price can rise above Kumo and have a breakout of the downward trend line, we have a trigger to go long. Stop loss will be placed at the last low around 21cents (0.2077)
This presents a 3:1 (2.8:1) risk reward
Roadmap for targets :
T1 38c
T2 44c
T3 53c
Analysis by Sean Vengan, 29 June 2017
Hope this helps.