📊 Checklist of a Professional Trader
Bullish Patterns: The price has formed a consolidation pattern before the bullish breakout. Candlestick Pattern: Likely bullish engulfing or breakout from an accumulation base.
Chart Patterns: Potential breakout of a resistance level with increased volume. Volume Analysis: The volumes show an increase on the breakout, confirming the strength of the breakout. RSI: H1: Likely confirmation of bullish momentum. H4/D1: To be checked if the bullish trend is confirmed on higher timeframes.
Supports and Resistances: Key Support: Area 2.1369 USDT. Key Resistance: Area 2.3609 USDT (Bullish target).
Entry and Exit Strategy: Entry: Breakout above the resistance level with volume confirmation.
Stop Loss: Placed below the accumulation level to avoid false breakouts. Target: 2.36 USDT as the first objective. Trend and Market Movements: H1 shows a possible bullish reversal. H4/D1 should be monitored to confirm the overall direction.
🎯 Trading Strategy
✅ LONG on XRP/USDT
Entry: Confirmation of the breakout with volumes. Stop Loss: Below 2.1369 USDT. Take Profit: 2.36 USDT (TP1), with the possibility of extension.
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