XRPUSD Long Opportunity
Hi guys its Brian here.
XRPUSD is currently sitting right at the support of the 200 EMA which has proved to be a solid support where price has previously bounced off it couple of times.
If XRPUSD bounces off the support, it is likely to continue upward within the yellow range zone. If 200 EMA support doesn't hold then the long is invalidated and stop loss should be placed slightly below the support. The downward momentum currently is pretty strong so don't try to catch a falling knife. May want to enter after price bounces off the support to be safe.
brianchai.com
Free Trading Group
XRPUSD is currently sitting right at the support of the 200 EMA which has proved to be a solid support where price has previously bounced off it couple of times.
If XRPUSD bounces off the support, it is likely to continue upward within the yellow range zone. If 200 EMA support doesn't hold then the long is invalidated and stop loss should be placed slightly below the support. The downward momentum currently is pretty strong so don't try to catch a falling knife. May want to enter after price bounces off the support to be safe.
brianchai.com
Free Trading Group
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.