XRP 5th wave analysis
Hello Traders,
Been trying to wrap my head around this current bounce we are having since the liquidation spike. We have two options
1) We are currently creating an Contracting Leading Diagonal to start off the 5th Wave (currently shown above)
2) We are in a 4th wave and heading down to finish the major wave 4. We have not started wave 5 yet.
im currently cautiously taking very small profits in this range in case we are going for another leg down.
I do like this current count and slightly think we have an higher probabilistic bullish count. If we break the origin of wave 2 in the contracting LD (around $2.27) then that breaks the bullish count and most likely heading lower to finish the major 4th.
Thank you
GOD BLESS and Trade on!
Been trying to wrap my head around this current bounce we are having since the liquidation spike. We have two options
1) We are currently creating an Contracting Leading Diagonal to start off the 5th Wave (currently shown above)
2) We are in a 4th wave and heading down to finish the major wave 4. We have not started wave 5 yet.
im currently cautiously taking very small profits in this range in case we are going for another leg down.
I do like this current count and slightly think we have an higher probabilistic bullish count. If we break the origin of wave 2 in the contracting LD (around $2.27) then that breaks the bullish count and most likely heading lower to finish the major 4th.
Thank you
GOD BLESS and Trade on!
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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.