Hi folks hope you are well, here I have found another profit potential trading idea and this time on very short term 2 hour chart the Ripple (XRP) coin is forming bullish Shark pattern and soon it will be entered in potential reversal zone to move up.
The Pattern:
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After initial leg (X to A) the A to B leg is retraced between 0.382 to 0.618 Fibonacci and then B to C leg is projected between 1.13 to 1.618 Fib of A to B Fibonacci projection area and last leg (C to D) should be retraced between 0.886 to 1.13 Fibonacci then the priceline will be ready to take bullish or upwards move.
Buying And Sell Targets:
The buying and sell targets according to harmonic Butterfly pattern should be:
Buy between: $0.14129 to $0.13928
Sell between: $0.14314 to $0.14720
So this is a very good short term buying opportunity
Stop Loss:
The potential reversal zone area which is up to $0.13928 can be used as stop loss in case of complete candle stick closes below this level.
Note: This idea is education purpose only and not intended to be investment advise, please seek a duly licensed professional and do you own reaserch before any investment.
