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XRP Elliott Wave technical analysis [Video]

Elliott Wave Analysis TradingLounge Daily Chart.

XRP/USD Elliott Wave technical analysis 

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave C

Direction next higher degrees: Wave (II) of Impulse

Details: Wave II Is equal to 61.8% of Wave I at 5.225

Ripple/ U.S. dollar(XRPUSD)Trading Strategy: Decreasing wave ((E)), which is the last wave in the Triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

Ripple/ U.S. dollar(XRPUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Chart

XRP/USD Elliott Wave four-hour chart

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave E

Direction next higher degrees: Wave 4 of Impulse

Wave cancel invalid level: 0.486

Details: Movement within the triangle pattern before the price Declines again. in Wave 5

Ripple/ U.S. dollar (XRPUSD) Trading Strategy: Decreasing wave ((E)), which is the last wave in the Triangle pattern before prices re-enter the uptrend. So wait for the correction to complete to join the trend again.

Ripple/ U.S. dollar(XRPUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Chart

XRP Elliott Wave technical analysis [Video]

Author

Peter Mathers

Peter Mathers

TradingLounge

Peter Mathers started actively trading in 1982. He began his career at Hoei and Shoin, a Japanese futures trading company.

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