andypro16
Short

Beware of the huge head&shoulder pattern.

KRAKEN:XRPUSD   Ripple / Dollar
209 3 1
I am not advising you to short.
Just don't chase high at this moment because this pattern is possible although I think ripple can rocket to a higher level in the future.
Kommentar:
Kommentar: the neckline has been broken.
Kommentar: heading 618 level
Trade geschlossen: Ziel wurde erreicht
Eh, this head and shoulders pattern is dubious at best. It doesn't really look like H&S and it also kind of neglects the long term trend we are in. I'm not sure I agree.
Antworten
andypro16 Tdunlap1310
@Tdunlap1310, Yes , indeed we are in long term uptrend . But we cannot ignore the chart pattern. I found the volume is decreasing which may show the weakening momentum.
Therefore, I won't open a short position. Meanwhile, I don't chase high right now.
+1 Antworten
Tdunlap1310 andypro16
@andypro16, The lack of volume is a little concerning.
Antworten
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