Elliott Wave Analysis TradingLounge.
XRP/USD (XRPUSD).
XRP/USD Elliott Wave Technical Analysis
function: counter trend.
mode: Fixed.
structure: Double correction.
position: Wave ((Y)).
Direction of next highest degree: Impulse Wave II.
Wave cancellation invalidity level:
detail: Wave II is likely to be completed, and prices are likely to rise in wave III.
XRP/USD (XRPUSD) trading strategy:
Since the second wave correction appears to be over, we will focus on the wave 5 rally of the third wave. The price action is still in an uptrend and is looking for a re-entry into the trend.
XRP/USD (XRPUSD) technical indicators: Price is below MA200, indicating a downtrend. The wave oscillator has bearish momentum.
XRP/USD (XRPUSD).
XRP/USD Elliott Wave Technical Analysis
function: counter trend.
mode: Fixed.
structure: Double correction.
position: Wave ((Y)).
Direction of next highest degree: Impulse Wave II.
Wave cancellation invalidity level:
detail: Wave II is likely to be completed, and prices are likely to rise in wave III.
XRP/USD (XRPUSD) trading strategy:
Since the second wave correction appears to be over, we will focus on the wave 5 rally of the third wave. The price action is still in an uptrend and is looking for a re-entry into the trend.
XRP/USD (XRPUSD) technical indicators: Price is below MA200, indicating a downtrend. The wave oscillator has bearish momentum.
Technical Analyst: Kitianpong Somboonsod.
