Asset: XRP (Market Cap in USD)
Timeframe: 30-Min Chart
Setup Type: Bullish Pennant Breakout
Trade Plan (Long Position)
Entry Zone: Above 138.91B (Breakout Confirmation)
Stop-Loss (SL): Below 135.50B (Key Support Level)
Take Profit Targets:
TP1: 143.94B (First Resistance Level)
TP2: 149.88B (Extended Bullish Move)
Risk-Reward Ratio Calculation
Risk (SL Distance):
138.91B – 135.50B = 3.41B risk per trade
Reward to TP1:
143.94B – 138.91B = 5.03B (1:1.47 R/R)
Reward to TP2:
149.88B – 138.91B = 10.97B (1:3.22 R/R)
Technical Analysis & Strategy
Bullish Pennant Formation: Price consolidating within a triangle, suggesting a potential breakout.
Ascending Trendline Support: Price respecting support, confirming the uptrend continuation.
Volume Confirmation Needed: Look for high buying volume above 138.91B to validate breakout.
Resistance at 143.94B: Needs to break this level to push towards 149.88B.
Trade Execution & Risk Management
Volume Confirmation: Ensure above-average volume on breakout.
Trailing Stop Strategy: Move SL to entry (138.91B) after TP1 (143.94B) is hit.
Partial Profit Booking Strategy:
Take 50% profits at 143.94B, let the rest run toward 149.88B.
Adjust Stop-Loss to Break-even (138.91B) after TP1 is reached.
️ Fake Breakout Risk
If price fails to hold above 138.91B, exit early.
Wait for a 30-min candle close above breakout level before entering.
Final Thoughts
Bullish Setup – Strong breakout potential.
Momentum Shift Possible – Watch for volume confirmation.
Favorable Risk-Reward Ratio – 1:3.22 to TP2.
Stick to the plan, manage risk, and trade smart!
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