XRP possible reversal zones
XRP seemed to bounce from our high time frame 0.5 line but leaving an equal low which might be a magnet and pull the price back to take liquidity.
I plotted some reversal zones for you to set your alarms to try an entry :)
I plotted some reversal zones for you to set your alarms to try an entry :)
- Reversal zone 1 is the 4H imbalance that the recent bounce left, so after a market structure break, I expect price to come back to this zone to fill the imbalance. This is a high probability zone but still a risky zone because it is in the high time frame premium zone.
- Reversal zone 2 is the order block just below the equal low liquidity line. Market makers might want to sweep this EQL.
- Reversal zone 3 is considered because it is our 0.618 level which some consider as a good entry
- Last reversal zone is the best entry but low probability because a news catalyst might be needed for price to return to this zone. But hey, if price does come back here. I'd bag a lot of XRP :)