Ripple: Buy Signals from Support Zone
The price bounced from the local downtrend line. We should be ready to see a pullback to the support zone formed by SMA100, SMA200, and 0.1900 support level. The price reversal at this zone will be able to give a buy signal with stop orders below SMA200 and the main profit target at 0.2100 resistance. It is very important that the price has not to move below the previous swing low. We need a new swing low, which will be higher as it will confirm the strength of buyers and a beginning a new upward movement.
The breakout above the local downtrend line will give the bullish signal as well. The buyers will be able to develop the bullish trend with the 1st target at 0.2100 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
The breakout above the local downtrend line will give the bullish signal as well. The buyers will be able to develop the bullish trend with the 1st target at 0.2100 resistance.
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
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