FX.co ★ XRPUSD Potential For Bullish Rise to overlap resistance

Description :

Looking at the H4 chart, my overall bias for XRPUSD is bullish due to the current price being above the Ichimoku cloud, indicating a bullish market. With price tapping into our buy entry at 0.36901, where the 38.2% Fibonacci line is, we are looking to take profit at 0.44792, slightly above where the 61.8% Fibonacci line is. Stop loss will be placed at 0.30000, where the previous swing low is.

Trading Recommendation

Entry: 0.36901

Reason for Entry: Overlap support inline with the 38.2% Fibonacci line

Take Profit:0.44792

Reason for Take Profit: Overlap resistance inline with the 61.8% Fibonacci line

Stop Loss: 0.30000

Reason for Stop Loss:

Previous swing low