XRP - 1D Elliott Wave Analysis
Greetings, this is my primary Elliott Wave Count for XRP on the daily timeframe.
XRP has been recently looking strong and we expect some more upside for the moment.
It seems the XRP is forming the E Wave of an Elliott Wave Triangle which usually is followed by a breakout with strong momentum. This Elliott Wave Triangle would finish the green Wave 4 and be followed by the green Wave 5.
The support area of Wave E is marked on the chart between the 0.382 FIB at 2.3007 USD and the 0.886 FIB at 2.0259 USD. Worthwhile watching is the 0.5 FIB at 2.2364 USD and especially the golden pocket between the 0.618 FIB at 2.1720 USD and the 0.66 FIB at 2.1491 USD.
Be aware that a Wave E often doesn't strictly follow the support areas and likes to under- or overshoot. Key is that the price doesn't break below the blue C Wave of the triangle which sits at 1.9601 USD as it is the invalidation point of the triangle.
If you are interested in the back-up scenario in case we break below 1.9601 USD check out my next analysis which we will like below as a note! :)
Additionally I recommend checking out the smaller timeframe analysis to get further targets for the blue E wave which will be linked as note too.
Thanks for reading.
NO FINANCIAL ADVICE.
XRP has been recently looking strong and we expect some more upside for the moment.
It seems the XRP is forming the E Wave of an Elliott Wave Triangle which usually is followed by a breakout with strong momentum. This Elliott Wave Triangle would finish the green Wave 4 and be followed by the green Wave 5.
The support area of Wave E is marked on the chart between the 0.382 FIB at 2.3007 USD and the 0.886 FIB at 2.0259 USD. Worthwhile watching is the 0.5 FIB at 2.2364 USD and especially the golden pocket between the 0.618 FIB at 2.1720 USD and the 0.66 FIB at 2.1491 USD.
Be aware that a Wave E often doesn't strictly follow the support areas and likes to under- or overshoot. Key is that the price doesn't break below the blue C Wave of the triangle which sits at 1.9601 USD as it is the invalidation point of the triangle.
If you are interested in the back-up scenario in case we break below 1.9601 USD check out my next analysis which we will like below as a note! :)
Additionally I recommend checking out the smaller timeframe analysis to get further targets for the blue E wave which will be linked as note too.
Thanks for reading.
NO FINANCIAL ADVICE.
บันทึก
Here is the back-up scenario in case we break below 1.9601 USD invalidation of the EW triangle.
บันทึก
4H Elliott Wave Analysis for XRP showing further targets for the blue Wave 4:
การซื้อขายยังคงดำเนินอยู่
We entered support area, red Wave C and blue Wave E could be finished.
We are looking for a bounce soon.
บันทึก
In case get a breakout from the low of the 8th January at 2.2001 USD our first upside targets would be 3.2368 USD and 3.4574 USD. บันทึก
I'd recommend to take some partial profits :) ปิดการเทรด: ถึงเป้าหมายการทำกำไร
Worked out, obviously we can go higher :)บันทึก
Updated version:
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน
คำจำกัดสิทธิ์ความรับผิดชอบ
ข้อมูลและบทความไม่ได้มีวัตถุประสงค์เพื่อก่อให้เกิดกิจกรรมทางการเงิน, การลงทุน, การซื้อขาย, ข้อเสนอแนะ หรือคำแนะนำประเภทอื่น ๆ ที่ให้หรือรับรองโดย TradingView อ่านเพิ่มเติมที่ ข้อกำหนดการใช้งาน