Ripple (ETH pairing) has found strong support (green line) and is currently consolidating along it to finish wave 2.
Wave 3 will begin once top of resistance line (triangle) is broken.
Remember... "Wave 3 cannot be the shortest of the three impulse waves, namely waves 1, 3 and 5" ;).
Remember to update stops at each fib level.
I have NEVER seen a perfect straight line pattern in regulated/normal markets. What the heck is this perfect straight line pattern??
The only thing I can guess is market manipulation of some kind. Ripple has WAY too much insider tokens so they can easily manipulate the market.
I hope to see XRP go to zero as it's toxic.....hope lawyers or regulators go after them.
After a good run Ripple, XRP/ETH on Binance has consolidated and found good support around 117.000. Volume is currently low and indicators (RSI and MACD) has formed a divergence.
Is Ripple ready to take off again?
We will see but it has a high probability to follow through when it breaks out of its triangle.
Trade Instructions:
Buy in Range:
117.000 -...
I'm a novice so any feedback on this would be highly appreciated. Looks like Ripple might be in for a possible rise to an Elliot 5. The first wave was maybe not exact so not sure if this is valid.
Looking at XRP we can see that we've had a nice healthy leg up, however, we're in a position that a slight move in volume to the upside or downside will send us to higher highs or lower lows.
I feel that buyers have a unique opportunity here to take control and drive the price higher. I'm currently in this as an active trade.
This is not financial advice,...
On to the upcoming Dump XRPETH will reach the target resistance of 0.00184766 before a strong Dip.
Make sure you take profit on that goal!
NOTE You can maximize your profits by doing the same with TRX.
I'd like someone to comment on te blatant mistake I could have made for this chart. I am not coming from a financial background and I'm mostly testing if I'm finding the correct patterns, or wheter I overlooked very basic indicators.
In this chart I think to see an impulse wave 4-5 after this bullish flag and then a following correction if the macd won't cross...
