XRP No clear direction
This seems to be the only valid count for XRP right now but has reasons for concern.
The Case for a valid count
Wave 3 has reached just above the 1.618 extension
Wave 4 down has reached a .5 retracement
When wave 3 is extended we should assume a .786 extension of waves 1-4. This would place XRP at a very strong resistance level and seems like an appropriate end to a wave 5.
Reason for concern
The count is not clear. On smaller timeframes Bullish and bearish counts can be given. The clearer count on daily chart has wave 4 entering wave 1 territory. As the candle only wicked down it technically is not a failure but we should be cautious.
Will not be entering this trade
Although the chart shows the possibility for a nice move the count is unclear and may have already been invalidated. Sitting this one out
The Case for a valid count
Wave 3 has reached just above the 1.618 extension
Wave 4 down has reached a .5 retracement
When wave 3 is extended we should assume a .786 extension of waves 1-4. This would place XRP at a very strong resistance level and seems like an appropriate end to a wave 5.
Reason for concern
The count is not clear. On smaller timeframes Bullish and bearish counts can be given. The clearer count on daily chart has wave 4 entering wave 1 territory. As the candle only wicked down it technically is not a failure but we should be cautious.
Will not be entering this trade
Although the chart shows the possibility for a nice move the count is unclear and may have already been invalidated. Sitting this one out
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.