$XRP/USDT 1D (Binance Futures) Descending trendline breakout

Jul 30, 2021

Ripple is ranging inside a big symmetrical triangle for a whole semester now, prepare for some action!
After that rejection on 200MA, retesting the 50MA then going toward upper-line is quite probable.

Current Price= 0.7239
Buy Entry = 0.6987 - 0.6435
Take Profit= 0.8066 | 0.9297 | 1.0718
Stop Loss= 0.5578

Risk/Reward= 1:1.2 | 1:2.28 | 1:3.54
Expected Profit= +20.19% | +38.53% | +59.71%
Possible Loss= -16.88%

Fib. Retracement= 0.382 | 0.5 | 0.618
Margin Leverage= 1x
Estimated Gain-time= 2 months

Aug 4, 2021

Trade active

First entry filled

Ripple dipping to the demand zone, it may go for 2nd entry before bouncing back, be patient!

Aug 9, 2021

Trade closed: target reached

TP1 reached with +20.19% (1x) and +1.2R

Ripple bounced and reclaimed 200MA support, road to higher targets seems likely!
SL moved to 2nd entry (0.6435$) to secure the trade, let's be patient enough.

Aug 12, 2021

Trade closed: target reached

TP2 reached with +34.74% (1x) and +2.28R

Ripple continued the up-trend as expected, SL updated to first entry now (0.6987$).

Aug 12, 2021

Trade closed: target reached

TP3 was reached with +57.33% (1x) and +3.54R

Ripple perfectly hit last target before starting to retrace down, that was precise!