Possible complex correction on XRPAUD H4
Updated
OK Ladies and Gentlemen,
Time for a quick update on XRPAUD. It seems we are undergoing a complex correct in the Triangle shown in RED inside wave 2(PINK).
From here we have Four scenarios:
1. We are on 5 wave ABCDE pattern(Orange) inside the Red Triangle after which it may go down for Wave 3(PINK).
2. ABC flat correction is over and we are on WX connecting wave for yet another flat correction inside the read triangle for an ABC wave after which it may go down for Wave 3(PINK).
3. After XY(Green) we will have another connecting wave(Z) and we go for triple correction inside the red triangle for an ABC wave after which it may go down for Wave 3(PINK).
4. There is only one ABC correction and we already on Wave 3(Least likely).
Whatever the case we are looking for Wave 3 and Wave 5 on the downside(PINK).
Don't force your hope on the chart and accept it the way it is without any bias and you will live to see another day.
This is for Educational purpose only.
Feedback and Suggestions are welcome.
Cheers!!
Time for a quick update on XRPAUD. It seems we are undergoing a complex correct in the Triangle shown in RED inside wave 2(PINK).
From here we have Four scenarios:
1. We are on 5 wave ABCDE pattern(Orange) inside the Red Triangle after which it may go down for Wave 3(PINK).
2. ABC flat correction is over and we are on WX connecting wave for yet another flat correction inside the read triangle for an ABC wave after which it may go down for Wave 3(PINK).
3. After XY(Green) we will have another connecting wave(Z) and we go for triple correction inside the red triangle for an ABC wave after which it may go down for Wave 3(PINK).
4. There is only one ABC correction and we already on Wave 3(Least likely).
Whatever the case we are looking for Wave 3 and Wave 5 on the downside(PINK).
Don't force your hope on the chart and accept it the way it is without any bias and you will live to see another day.
This is for Educational purpose only.
Feedback and Suggestions are welcome.
Cheers!!
Note
A quick update: Note that we are testing the red support line. A bounce from here means we will go for ABC wave(Black). A break of the support lines means start of the Wave 3
Also note its XRPUSD not XRPAUD. My apologies..
Note
Seems like we are on Scenario 4 above and we are on Wave 3 on the pink wave.Confirmation will come if we go below Wave 1 for a new Lower low.
Note
As per the update yesterday, we have confirmation that we are on Wave 3 at the moment. Wait for a retrace for wave 4 and a final wave 5 down.
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