My analysis of the 1 hour chart established a bearish bias, and I used the 5 minute chart to time my short entry.
I waited for price to pull back and retest the lip. Once a bearish confirmation candle appeared, I entered a short position in line with the higher timeframe trend.
Trade levels:
• Entry: 1.4722
• Stop-loss: 1.4918
• Take-profit: 1.4542
The approach was simple: establish the overall direction, wait for the retracement, and enter after confirmation.
The chart shown is the 1 hour chart. TradingView does not allow public ideas on the 5 minute timeframe otherwise I would have shared the execution chart to show the pullback and entry confirmation more clearly.
XRPUSDT
Perp
1.4918
-1.02%
