📊 XRP/USD – Bullish Reversal in Progress After Wave 5 Completion
Timeframe: 1H
Structure: Elliott Wave + Divergence + Break of Structure
Indicators Used: Awesome Oscillator (AO), Fibonacci Retracement, Market Structure
⸻
🧠 Wave Count & Structure Analysis
We’ve just completed a clean 5-wave Elliott impulsive structure to the downside:
• ✅ Wave 1–5 clearly marked with strong bearish momentum
• ✅ Wave (3) and Wave (5) show bullish divergence on the Awesome Oscillator (AO) – a classic sign of weakening bearish momentum and potential reversal
• ✅ Wave (5) completed at the bottom with confluence from price action and AO divergence
⸻
🔁 Break of Structure & Confirmation
• ✅ Break of structure (BoS) occurred at 2.35064, confirming the end of the bearish impulsive wave and the start of a potential ABC corrective phase
• ✅ The BoS also coincides with a dominant structure break, giving higher confidence in the trend shift
⸻
🟦 Current Price Action: ABC Corrective Wave Forming
We’re now in the early stages of a bullish corrective wave (ABC):
• 🔹 Wave A has likely completed
• 🔹 Currently expecting a retracement to form Wave B
• 🔹 Wave C target is projected based on Fibonacci extensions between 1.618 to 1.88, offering a high-probability take-profit zone (TP1)
⸻
🎯 Trade Setup
Pending Buy Entry:
• 📍 Entry Zone: Fibonacci retracement between 0.382 – 0.618 of Wave A
• 🎯 TP1: Fibonacci extension of Wave C between 1.618 – 1.88
• ❗ SL: Just below Wave (5) low or below 0.618 zone, depending on risk tolerance
⸻
🧩 Confluences for Bullish Setup
• ✅ Elliott Wave completion (Wave 5)
• ✅ Bullish Divergence on AO
• ✅ Break of Market Structure (BoS + Dominant BoS)
• ✅ Retracement into Fibonacci golden zone (0.382–0.618)
• ✅ Measured C wave extension to 1.618–1.88
⸻
📝 Summary
The market has shown strong technical signals for a bullish corrective move after a clean Elliott 5-wave completion. With a confirmed divergence, break of structure, and upcoming ABC retracement, this setup offers a solid risk-to-reward opportunity. Watching the buy zone closely for a pending long trigger.
⸻
🔔 Disclaimer:
This is not financial advice. Always conduct your own analysis and manage your risk accordingly.
Timeframe: 1H
Structure: Elliott Wave + Divergence + Break of Structure
Indicators Used: Awesome Oscillator (AO), Fibonacci Retracement, Market Structure
⸻
🧠 Wave Count & Structure Analysis
We’ve just completed a clean 5-wave Elliott impulsive structure to the downside:
• ✅ Wave 1–5 clearly marked with strong bearish momentum
• ✅ Wave (3) and Wave (5) show bullish divergence on the Awesome Oscillator (AO) – a classic sign of weakening bearish momentum and potential reversal
• ✅ Wave (5) completed at the bottom with confluence from price action and AO divergence
⸻
🔁 Break of Structure & Confirmation
• ✅ Break of structure (BoS) occurred at 2.35064, confirming the end of the bearish impulsive wave and the start of a potential ABC corrective phase
• ✅ The BoS also coincides with a dominant structure break, giving higher confidence in the trend shift
⸻
🟦 Current Price Action: ABC Corrective Wave Forming
We’re now in the early stages of a bullish corrective wave (ABC):
• 🔹 Wave A has likely completed
• 🔹 Currently expecting a retracement to form Wave B
• 🔹 Wave C target is projected based on Fibonacci extensions between 1.618 to 1.88, offering a high-probability take-profit zone (TP1)
⸻
🎯 Trade Setup
Pending Buy Entry:
• 📍 Entry Zone: Fibonacci retracement between 0.382 – 0.618 of Wave A
• 🎯 TP1: Fibonacci extension of Wave C between 1.618 – 1.88
• ❗ SL: Just below Wave (5) low or below 0.618 zone, depending on risk tolerance
⸻
🧩 Confluences for Bullish Setup
• ✅ Elliott Wave completion (Wave 5)
• ✅ Bullish Divergence on AO
• ✅ Break of Market Structure (BoS + Dominant BoS)
• ✅ Retracement into Fibonacci golden zone (0.382–0.618)
• ✅ Measured C wave extension to 1.618–1.88
⸻
📝 Summary
The market has shown strong technical signals for a bullish corrective move after a clean Elliott 5-wave completion. With a confirmed divergence, break of structure, and upcoming ABC retracement, this setup offers a solid risk-to-reward opportunity. Watching the buy zone closely for a pending long trigger.
⸻
🔔 Disclaimer:
This is not financial advice. Always conduct your own analysis and manage your risk accordingly.
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.
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.