On 4-hour chart, the price action of XRP has completed the final leg of bullish Crab pattern and entered in a potential reversal zone. There is also 200 simple moving average support below the PRZ level.
Buying And Sell Targets:
The buying and sell targets according to the harmonic Crab pattern should be:
Potential reversal or buying zone: $0.5190 to $0.4889
Fibonacci projection or sell zone: $0.5424 to $0.5996
Stop Loss:
The potential reversal zone area that is up to $0.4889 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 22.5% and as per the above-mentioned stop loss, the loss possibility is 5.5%.
Note: Above idea is for educational purpose only.
Buying And Sell Targets:
The buying and sell targets according to the harmonic Crab pattern should be:
Potential reversal or buying zone: $0.5190 to $0.4889
Fibonacci projection or sell zone: $0.5424 to $0.5996
Stop Loss:
The potential reversal zone area that is up to $0.4889 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 22.5% and as per the above-mentioned stop loss, the loss possibility is 5.5%.
Note: Above idea is for educational purpose only.
