BerlinTrader591
Long

XRP Inverse Head and Shoulder Pattern

KRAKEN:XRPUSD   Ripple / Dollar
On Ripple Coin's 60 minute chart, we see a nice inverse head and shoulder reversal pattern.

If we get a breakout above the neckline resistance at .235 then, we should see a nice run.

Entry: Breakout over .235, neckline of head and shoulder pattern
Target: .274, 200% retracement of depth of the head (measured move = same depth as head)
Stop: Below .235 (former resistance becomes new support)

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MY TRADING METHOD:
I keep my analysis simple. Good analysis always is.
I use Price Patterns, Moving Averages, and RSI for my analysis.
I use the 1 day for trend analysis and 60 minute for trade entry
For my Targets I use Fibonacci projections + measured moves
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