XRP / BTC - one more push up to confirm THE RETURN OF THE BULLS!

XRP / BTC:
it seems that we are currently putting in the waves D and E to complete wave 4 of one larger degree;
this means that we'll soon be going up for a wave 5 to complete wave 1 of a larger degree.
then down for a shallow 2 as this is in fact all part of a wave 3 of a larger degree, so brace yourselves!
there are alternate counts that could possibly take us lower, but i think this is the most PROBABLE outcome.
Happy trading and remember that the BULLS ARE COMING! :D
it seems that we are currently putting in the waves D and E to complete wave 4 of one larger degree;
this means that we'll soon be going up for a wave 5 to complete wave 1 of a larger degree.
then down for a shallow 2 as this is in fact all part of a wave 3 of a larger degree, so brace yourselves!
there are alternate counts that could possibly take us lower, but i think this is the most PROBABLE outcome.
Happy trading and remember that the BULLS ARE COMING! :D
Dagangan aktif
long position triggered, i think we still have a bit more to go to put in the E but always front run position entry slightly to make sure it goes through, and go through it did :)and here's a closer look at the position i entered, the two dashed blue lines were my orders, it took just one wick slightly passed it to go through :D
will keep updating as the trade progresses. stay tuned...
Dagangan ditutup secara manual
XRP / BTC update:I started to notice that this might be the setup instead, not a big deal, but it means that we could be still putting in the ABC correction for wave 4, with the B wave forming an ABCDE triangle.
first reason for this is that the A wave has a 5 wave structure ( this can still be looked at as a 3 wave depending on the count, but it looks like its possibly a 5 wave structure).
this means that the ABCDE correction starts at the bottom and therefore will result in a break down of the triangle rather than a breakout.
Also there is a descending triangle forming on the RSI that doesn't look too promising.
A good trader, always should minimise losses and maximise wins, this setup was not a good enough R:R ratio to warrant the risk.
It may well still breakout, but Im not going to take that chance.
you can see here that it could put in a double bottom or go slightly further before setting up for the 5th.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.