(XRP.X) Ripple Based off of IMPULSE..50%+ gainer coming?
Just an idea...I have another TA on ripple that you can check out on my page.
This is the idea based on the facts of impulse, psychology, and human emotion.
It's pretty straight forward, explaining that since the impulse acts in waves, we should be seeing a slow uptrend in ripple for the next couple of days. The highest point it could make is 28k sash, before it recorrects and then continues to trend up, which would change my target price for my other TA (~35k sash), but this one is a different type of TA that I don't normally do. I based this number off of using Fibonacci retracements, where the top of the trend was wave 5 and the bottom was wave C...this would be a good choice to dictate if that downtrend will continue, and it reversed and actually touched 1.61 very closely. I expect the same for this upcoming wave series.
All ellipses on RSI are important points: end of wave 2, start of wave 3 (which I circled to compare with our current state) and then also the tops of wave 5.
The forecast bars are based on a rough estimate, as I haven't used the best method to figure out how long a path may take, as both the first and second wave are a few bars close, about 12 hours, which could be an interesting number on its own.
Nonetheless, we should be uptrending from here on out!
This isn't my normal type of TA, but HEY: You have to continue to expand your knowledge and try to learn to become a better trader!
Please, let me hear your comments and if you're more familiar with this type of technical analysis, let me hear your thoughts as to what you see may be true or not.
I am IN ripple, bullish, and holding as I do believe it is on the trend of breaking out soon.
This is the idea based on the facts of impulse, psychology, and human emotion.
It's pretty straight forward, explaining that since the impulse acts in waves, we should be seeing a slow uptrend in ripple for the next couple of days. The highest point it could make is 28k sash, before it recorrects and then continues to trend up, which would change my target price for my other TA (~35k sash), but this one is a different type of TA that I don't normally do. I based this number off of using Fibonacci retracements, where the top of the trend was wave 5 and the bottom was wave C...this would be a good choice to dictate if that downtrend will continue, and it reversed and actually touched 1.61 very closely. I expect the same for this upcoming wave series.
All ellipses on RSI are important points: end of wave 2, start of wave 3 (which I circled to compare with our current state) and then also the tops of wave 5.
The forecast bars are based on a rough estimate, as I haven't used the best method to figure out how long a path may take, as both the first and second wave are a few bars close, about 12 hours, which could be an interesting number on its own.
Nonetheless, we should be uptrending from here on out!
This isn't my normal type of TA, but HEY: You have to continue to expand your knowledge and try to learn to become a better trader!
Please, let me hear your comments and if you're more familiar with this type of technical analysis, let me hear your thoughts as to what you see may be true or not.
I am IN ripple, bullish, and holding as I do believe it is on the trend of breaking out soon.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.