XRPBTC Ripple vs Bitcoin Potential Bearish Bat Pattern
Pattern /Reason: Bearish Bat Pattern
Time Frame: H1
Accuracy of the Pattern( How much it’s meeting the requirements of the said pattern): 74%
Setup No: XRPUSD240701
Recommended Lot: 0.20
Trade Period: Intraday – Medium term
Entry: 32.80 – 33.00
Stop Loss: Above X 33.50
TP1: 32.03125 / Reached
TP 3: 30.46870
Update: Breakout of 31.2500 would accelarate the bearish move. You can add short with TP3.
Warning and Things to Pay Attention:
- Harmonic Patterns are reversal patterns and mostly against the main trend on the chart they appear.
- Target levels are determined by MM Calculation as the pattern has not been completed yet. They may vary 3-5 pips according to the completion level of the predicted patterns.
- Pay attention to Time Frame, Trade Period and Estimated Completion Time, Accuracy and Recommended Lot Size clauses mentioned below.
- Do not risk more than 2% in one trade setup.
- We usually book partial profit at the first target and move our stop loss to entry or break-even level. Use your own risk/profit management to exit the trade.
- We are publishing potential opportunities. There are no certainties and traders bets on possibilities. Read the setup carefully before entering a trade and take your own decision.
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