Analyzing XRPUSDT using the Twin Range Filter indicator and support and resistance and the result obtained

Hello dear friends, It's another day in the crypto market and I'm delighted to share with you all another analysis I made on the pair of XRPUSDT in a 1H timeframe using the Twin Range Filter indicator and support and resistance strategies.

As you all know, it is never advisable to trade the financial market using only the signal gotten from an indicator and that is why today I want to trade this pair using a confluence i.e. a combination of indicator and the support & resistance strategies.

The areas with strong support and resistance have been marked with black horizontal lines as seen in the above chart. I ensured to use a higher timeframe to filter all the noise which are associated with the smaller timeframe.

After successfully drawing this level, I saw that price respected this level several times and that is the reason I decided to enter the market long after getting the signal from the twin-range filter indicator.

The twin range filter indicator is a type of indicator that gives a buy or sell signal to traders to enter the market. It uses the long and short symbols for buying and selling the market respectively.

After confirming that the price respects the support level which I drew on the chart, the long signal also showed up from the indicator. I immediately entered the trade and used a proper risk-reward ratio.

From the above result, I traded XRPUSDT using just 10x leverage. The profit level was about 400% and the stop loss was about 10% of my entire capital. It's always good to use such a risk-reward ratio.

I have already made 15% of the trade as seen in the image above which shows that the analysis we carried out using the Twin range filter indicator and the support and resistance strategies is very correct.

You can try using this method in analyzing any coin of your choice and then wait patiently to see how the market plays out. It is important to note that the analysis is not always correct but most times they are 90% accurate. See you guys again in the next episode of my analysis.

Disclaimer: ^{This post is made as an education and not investment advice. Digital asset prices are subject to change. All forms of crypto investment have a high risk. I am not a financial advisor, before jumping to any conclusions in this matter please do your research and consult a financial advisor.}