Ripple is trying to get back in the Trading Range. Even if it manages to do so, this weak structure indicates that it will continue its downtrend after taking a visit to the previous swing high and hunting the stops above it. That visit, is our initiation.
Entry: 0.267
SL: 0.288
TP-1: 0.214
TP-2: 0.169
R/R: 4.67
Please let me know if you have any suggestions or any ideas to add. I can also give you more detailed explanation for this specific trade setup.
The ideas published here are not financial advices.