XRP Trading Setup and Analysis Before CPI!
Dear Investors and Traders, today CryptoQueens provide you a well analyzed but highly risky and rewarding trade!
In anticipation of the CPI data report today, we expect price to pump at the area of the Bearish Orderblock, where it will be rejected, and reversal will occur effective immediately. Therefore, we place an order before CPI's announcement at the highlighted area in the chart. To be exact, at 0,3764$. We set our 1st TP, at the green area highlighted on the chart, which is basically the local Bullish Orderblock, a.k.a. Local Support. At this point, consider closing 50% of profits and set Stop Loss to Break-Even.
Moving on, in case of breaching below the local support, we expect price to decline even further! Hence, we set our 2nd and 3rd TPs at the pinpointed area on the chart based on Fibonacci Ratrecement, at the levels of 62,8% and 50% . Secure 25% off of profits at each point, respectively. Nextly, let the remaining position to ride the Waves and close only in case of reaching our 4th TP at 0,3120$.
REMINDER: Please do recall to move Stop Loss to Break-Even as soon as 1st TP is hit!
To Sum Up:
Entry Price: 0,3764$
Risk/Reward until 1st TP: 1:3
IMPORTANT: Involves high risk, anticipate huge price volatility!
Low leverage is reccomended at any circumstance!
Not a Financial Advise!
Trade with Caution!
If you like the idea make sure to support with a like & follow!
Want to join the "profitable train"? Hop On!
Best Regards, CryptoQueens.
In anticipation of the CPI data report today, we expect price to pump at the area of the Bearish Orderblock, where it will be rejected, and reversal will occur effective immediately. Therefore, we place an order before CPI's announcement at the highlighted area in the chart. To be exact, at 0,3764$. We set our 1st TP, at the green area highlighted on the chart, which is basically the local Bullish Orderblock, a.k.a. Local Support. At this point, consider closing 50% of profits and set Stop Loss to Break-Even.
Moving on, in case of breaching below the local support, we expect price to decline even further! Hence, we set our 2nd and 3rd TPs at the pinpointed area on the chart based on Fibonacci Ratrecement, at the levels of 62,8% and 50% . Secure 25% off of profits at each point, respectively. Nextly, let the remaining position to ride the Waves and close only in case of reaching our 4th TP at 0,3120$.
REMINDER: Please do recall to move Stop Loss to Break-Even as soon as 1st TP is hit!
To Sum Up:
Entry Price: 0,3764$
- Take Profit 1: 0,3475$
- Take Profit 2: 0,3319$
- Take Profit 3: 0,3257$
- Take Profit 4:0,3120$
- SL: 0,3829$
Risk/Reward until 1st TP: 1:3
IMPORTANT: Involves high risk, anticipate huge price volatility!
Low leverage is reccomended at any circumstance!
Not a Financial Advise!
Trade with Caution!
If you like the idea make sure to support with a like & follow!
Want to join the "profitable train"? Hop On!
Best Regards, CryptoQueens.
