As we approach what seems to be the top of a lower degree wave B that will conform into a higher degree wave 4, we are allowed to enter into what could be a lesser degree wave C to finally finish our correction wave 4 somewhere in the 550 USD price range. Since our wave B has come up very close to wave A starting point, this allows for a very good risk/reward...
Estamos actualmente a un muy buen nivel para la finalizacion de la onda 4. La estructura en Timeframes mas chicos ya empieza a anunciar un empuje al alza para completar la onda 5. Mas de 300 pips hasta el Tp. Feliz Trading :)
EURJPY has setup a clear Head N Shoulders patterns that should that could retrieve profits 4 times greater than the risk taken.
XRPUSD just showed bullish confirmation in the form of a 5 wave advance.
Ripple has gone through a complete 8 wave cycle. Looking up to the next higher degree, this 8 waves conform into either a Waves 1 and 2 or Waves A and B. This leaves room to assume that the next movement, however it should play out, will form a wave 3 or C. This push will most definetly take prices over, or atleast on the edge, of the historic High. At this...
This count is the only scenario we can see for a bearish continuation in price. If this turns out to be the correct scenario, we are in for quite a drop since price will be making a Head N Shoulders pattern that will most probably end in a devastating Wave C.
This wave count allows for a 5th and Final impulsive Wave before a colapse in price. In the long run it means the same as scenario 1, which is that XRPUSD is going higher.
This wave count shows that a complete 8 wave cycle has been completed. When going to the a higher degree of wave count it shows that this 8 waves conform 2 bigger waves that could be either Wave and Wave or Wave and Wave . Being this true, it means XRPUSD will break its highs very soon and very strongly.
Get ready for market open. GJ is showing many wave signals of upward pressure losing steam. Besides its broke the primary trendline H1.
GBPJPY is showing many signs of a upcoming bearish correction before retaking its course to higher highs.
EURAUD will have a Correction before falling. Red lines are entry points.
ETHUSD broke the top eliminating our bearish wave C scenario. The alternative scenario is a fifth Wave which should take ETHUSD to about 1600 USD level. We are indeed about to see Ethereum double in price.
We are in a current fifth wave. Just by observing cryptos I can tell you that once price breaks the Wave (3) level its going sky high.
B wave of the ETHUSD zig-zag formation is still running its course. We have to remember corrections take time. Once this B wave has ran its course the final bearish wave, the C wave, will take the wheel and drive the price of ethereum at or below the 500 USD point.
XRPUSD is about to finish an extended 5th wave of a possible (3)rd or (C) Wave. If it is a (C) wave this is the peak. If it results to be a (3)rd wave we will have one more rally probably taking the price to or above 2 USD.
C waves tend to make very agresive movements in the markets. If we in fact are in a C wave price is about to tank.