I’m back for more trading calls this week.

One of the biggest winning analyses I called here in Finlogix, the XRP ended in a 15.56% profit!

Made last February 16, 2024 and hit on point. Read the recap here:

https://www.finlogix.com/analysis/20240216/xrp-intraday-analysis-and-trading-plan-for-february-16-2024

Almost hit the stop loss but this trade plan held on to the end.

I’m 3 wins and 3 losses since January 24, 2024.

Re-assessing Nikkei225’s high timeframe candles:

Yearly Candle: Last check is a Red Hammer now a Green Hammer

Monthly Candle: Previous close is a Green Body with Longer Head Wick current is a Green Body with Shorter Head Wick

Weekly Candle: Previous close is a Large Green Body with Equal Head and Tail Wicks current is a Green Spinning Top

Daily Candle: Previous close is a Red Long Lower Shadow current is developing a Green Body with Equal Head and Tail Wicks

Impressive holding on the crucial 0.51-0.52 support levels last month fully negating a bearish scenario!

Both the yearly and monthly candles have completely changed the trend by breaking the 0.57-0.58 weekly resistance and flipped into a support after the flash crash back to 0.52 levels last week!

Crazy price action in the XRPUSD chart. I expect XRP to continue the uptrend challenging the 0.70 and 0.75 resistance soon.

I can see three things in the 4H chart, they are:

Every time XRPUSD’s price action creates bullish FVGs, they are mitigated by the presence of strong order blocks with a stronger order flow as well!

The XRPUSD will move higher again once a confirmed XRPBTC weekly chart commences.

I will set bullish bias for now since XRP has found bottom around the 0.48 levels. November 2023’s peak at 0.75 down to 0.48 is our complete 3-wave price correction.

I will set a long trade with the following entries:

The take profit targets the 0.75 resistance for formality and a safer stop loss back the 0.57 levels just in case the up wave misfires.

A healthy 1.51 risk to reward trade setup.

XRP Intraday Analysis and Trading Plan For March 4, 2024

Mar 04 2024

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