Yesterday's short term idea has been executed successfully:
Before execution:
After execution:
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Formation of new harmonic pattern:
Now again on short-term 4-hour chart, the price action of XRP is completing final leg of bullish BAT and soon it will be reached in potential reversal zone.
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Buying And Sell Targets:
The buying and sell targets as per Fibonacci sequence of BAT pattern should be as below:
Potential reversal or buying zone: $0.5249 to $0.5147
Sell or Fibonacci projection zone: $0.5493 to $0.5861
Stop Loss:
The potential reversal zone area that is up to $0.5147 can be used as stop loss in case of complete candlestick closes below this level.
Possible profit and loss ratio:
As per above targets this trade has a profit possibility of 13.8% and as per the above-mentioned stop loss, the loss possibility is 2%.
Note: Above idea is for educational purpose only. It is advised to diversify and strictly follow the stop loss, and don't get stuck with trade.
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