$XRP: WAIT - waiting for a bounce into the broken 1.0420 shelf to short.
What happened: XRP held 1.030 to 1.042 many times, then price fell below support and flushed to 0.9975. It bounces near 1.0235 while Bitcoin stays weak near 69200.
Entry: 1.0420, only after price taps 1.0420+ and an hourly candle closes back under 1.0420.
Stop loss: 1.0580, about 1.5 pct above entry.
Target 1: 1.0062, gives 1.7 times the risk.
Target 2: 0.9975, gives 2.2 times the risk.
Skip longs, too many traders are long and bounces fail under the broken shelf.
What cancels the idea: an hourly candle close above 1.0580 ends it.
#write2earn #trade #tradesetup
Reply with your coin you want analysis on.
What happened: XRP held 1.030 to 1.042 many times, then price fell below support and flushed to 0.9975. It bounces near 1.0235 while Bitcoin stays weak near 69200.
Entry: 1.0420, only after price taps 1.0420+ and an hourly candle closes back under 1.0420.
Stop loss: 1.0580, about 1.5 pct above entry.
Target 1: 1.0062, gives 1.7 times the risk.
Target 2: 0.9975, gives 2.2 times the risk.
Skip longs, too many traders are long and bounces fail under the broken shelf.
What cancels the idea: an hourly candle close above 1.0580 ends it.
#write2earn #trade #tradesetup
Reply with your coin you want analysis on.
