$XRP /$USD Trade Plan (Short Position)

Entry: 2.1739

Stop Loss (SL): 2.2342

Take Profit (TP): 2.1156

Risk/Reward Ratio: Moderate

Trade Rationale:

Trend: XRP is in a horizontal trend channel, suggesting continued sideways movement with a bearish bias.

Technical Pattern: A head and shoulders breakdown at 2.26 signals further downside potential.

Support & Resistance: The currency has key resistance at 2.76 and support at 0.65. The expected drop could lead to 1.43 or lower.

Strategy:

Enter short at 2.1739, as the trend signals downward movement.

SL at 2.2342 to minimize risk if price reverses.

TP at 2.1156 to capture potential downside momentum.

Risk Management:

Ensure position sizing aligns with risk tolerance.

Monitor market sentiment and volume for confirmation of breakdown.

Adjust SL and TP dynamically if strong support/resistance levels shift.

Would

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