"When you do not recognise a chart pattern do not trade it"
This is what a great Elliott Wave analyst once said and its true. There is no need to jump on a trade if the pattern is not clear.
For me XRP is showing a 3 moves down (let's call them a-b-c) but it could also be a possible 5 moves down (so we need the 4 and the 5 since we already have 3).
The overall pattern is still a little bit vague as to its final form but one thing seems clear: the correction is still ongoing.
Therefore we have to wait for more evidence for the move down to end and then it will be a Buy time.
So I am waiting for the chart of XRP to guide me, to show me the path.
There is a lot of discussion as to XRP.
Others are super positive, others are super negative. Personally I do not care, I see the chart.
The chart will define what the herd wants to do.
Let me clarify here that XRP is not a long term investment for me. At least not for now. If I change my mind I will inform you.
I see XRP as a trading opportunity and that's all.
As soon as the correction ends, I will go long XRP and I will mention my target prices.
Be well and safe and please do your homework before investing.
This is what a great Elliott Wave analyst once said and its true. There is no need to jump on a trade if the pattern is not clear.
For me XRP is showing a 3 moves down (let's call them a-b-c) but it could also be a possible 5 moves down (so we need the 4 and the 5 since we already have 3).
The overall pattern is still a little bit vague as to its final form but one thing seems clear: the correction is still ongoing.
Therefore we have to wait for more evidence for the move down to end and then it will be a Buy time.
So I am waiting for the chart of XRP to guide me, to show me the path.
There is a lot of discussion as to XRP.
Others are super positive, others are super negative. Personally I do not care, I see the chart.
The chart will define what the herd wants to do.
Let me clarify here that XRP is not a long term investment for me. At least not for now. If I change my mind I will inform you.
I see XRP as a trading opportunity and that's all.
As soon as the correction ends, I will go long XRP and I will mention my target prices.
Be well and safe and please do your homework before investing.