XRP/USD-4 Hour analysis
Hello everybody, I want to share this with you!
-On a 4-hour chart, we can see that the price formed some not symmetrical head and shoulders pattern and we can see that now the price is testing a blue resistance line.
-We can see that the price tested multiple times that resistance line and then, the price rejected.
-On a lower time frame, we can see that the tested that resistance line and rejected and now the price is a little bit under the resistance line.
-I expect few more retests on lower time frames and if the price rejects then I will try to find an opportunity to sell and I expect that the price is going to move in a bearish direction until the price reaches somewhere around 0.2670-0.2680,...Because on that area we had lot of rejections so I consider that as a solid zone.
-If the price breaks the blue resistance line we can expect bullish movement or we can expect some fake breakout,...But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
-On a 4-hour chart, we can see that the price formed some not symmetrical head and shoulders pattern and we can see that now the price is testing a blue resistance line.
-We can see that the price tested multiple times that resistance line and then, the price rejected.
-On a lower time frame, we can see that the tested that resistance line and rejected and now the price is a little bit under the resistance line.
-I expect few more retests on lower time frames and if the price rejects then I will try to find an opportunity to sell and I expect that the price is going to move in a bearish direction until the price reaches somewhere around 0.2670-0.2680,...Because on that area we had lot of rejections so I consider that as a solid zone.
-If the price breaks the blue resistance line we can expect bullish movement or we can expect some fake breakout,...But that is just my opinion!
-WHAT DO YOU THINK ABOUT THIS SETUP?
Please let me know in the comment section!
THANKS FOR READING!
-If you have some different opinions please let me know and if you like this please hit that like button and give me support, I will appreciate every support.
-Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts. The information given is not a Financial
advice.
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