This is a proper signature swing set up for Ripple (XRP). As you can see from this set up after doing a TDA you soon realize that structure is breaking on the lower TF and that we were in what begins to look like a slight up tend. However, on the higher TF price action gets consolidated into a few easy to identify price action candle sticks and begins breaking structure in the from of a morning star (June-July '20). Using smart money concepts price has already rejected and reacted from the 71% of the overall structure and formed a bankers candle in our logical area. At this point anyone looking to trade this should wait for proper mitigation from the highlighted zone and look for structure to reject and react again solidifying the overall shift in the market from swing low to swing high.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.