🚨 XRP NEWS TRADING SETUP | FIBONACCI EXTENSIONS
Sharing my XRP 5-minute chart and a news-based trading strategy.
📊 How I identify the setup:
Mark the highest swing high and lowest swing low between 7:00 AM and 8:30 AM.
Apply Fibonacci to this range.
At the 8:30 AM news release, observe which direction the market moves.
Mark Fibonacci extension levels: -0.5, -1 and -1.5.
If a candle body closes below one of these levels, wait for the next candle.
Open a SHORT position on the next candle.
Place your stop-loss above the previous rejection candle's high.
Set your target at the original swing low from where the upward move started.
🔄 Bullish Scenario:
Follow the exact same process in reverse. If price moves upward and a candle body closes above the corresponding extension level, enter LONG on the next candle. Place your stop-loss below the previous rejection candle's low.
🎯 My approach: Let the news move happen, identify the direction, wait for candle-close confirmation, and execute with a defined risk.
Don't chase the news spike. Wait for confirmation!
⚠️ Educational content only. Always manage your risk and backtest the strategy before trading live.
#xrp #cryptotrading #ICTTradingStrategy #Fibonacci #LiquiditySweep
Sharing my XRP 5-minute chart and a news-based trading strategy.
📊 How I identify the setup:
Mark the highest swing high and lowest swing low between 7:00 AM and 8:30 AM.
Apply Fibonacci to this range.
At the 8:30 AM news release, observe which direction the market moves.
Mark Fibonacci extension levels: -0.5, -1 and -1.5.
If a candle body closes below one of these levels, wait for the next candle.
Open a SHORT position on the next candle.
Place your stop-loss above the previous rejection candle's high.
Set your target at the original swing low from where the upward move started.
🔄 Bullish Scenario:
Follow the exact same process in reverse. If price moves upward and a candle body closes above the corresponding extension level, enter LONG on the next candle. Place your stop-loss below the previous rejection candle's low.
🎯 My approach: Let the news move happen, identify the direction, wait for candle-close confirmation, and execute with a defined risk.
Don't chase the news spike. Wait for confirmation!
⚠️ Educational content only. Always manage your risk and backtest the strategy before trading live.
#xrp #cryptotrading #ICTTradingStrategy #Fibonacci #LiquiditySweep
