Besides the fact that we could be making a series of waves 12 on xrp,
there is a perspective of a larger triangle presented on this chart.
3rd perspective is gravely bearish and would take us to much lower prices.
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Calling the potential bottom on this one.
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One of the perspectives i am eyeing right now. Wouldnt want to see yellow path breaking the trendline formed by a potential A and C terminus points of the larger triang.Even if it breaks by a wick, triang would still be valid except if PA passes the terminus of wave C.
Strong guideline about triangs is that price action respects the trend lines formed by the terminus points of a triangle. (ABCDE).
Current price action doesnt show any motive or impulsive wave for my eyes. Such is XRP.
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Just saying that something could be done and the retrace could be bought. Just saying... Not a financial advice
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Current developement of Xrp gives me corrective vibes. In case i had a wrong count and we are forming some sort o f a wave 4, we will have another wave up to complete the impulse.
I am thinking tho , that the current 5 waves have ended and that the current price action is weak looking and it is not strong enough to form something that will go higher.
So i say lower lows before continuing up on XRP.
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Send it
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XRP We are back in the channel. Xrp is not so clean with EW, but this would be a decent / cleaner perspective
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Projection on the right side would suggest that the wave 2 is already in.
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lower time frame
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XRP - Trying to make sense out of a nonsense coin. I know i am fighting the windmills here. With new rules for diags, i cant ignore this expanding formation after the wickery that stopped so many... Current drop from the latest high looks sharp and impulsive. If we make a slugish move up, well we might as well make a wave C down as suggested. However, its xrp, hard to read
that's my count, too! finishing up the e-wave and let's see it rip
PriceActionHelp
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What do you mean by "new rules for diags"?
PK_SEND_IT
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@PriceActionHelp new edition of Frost Prechter Elliott wave states that wave 2 doesn't have to be bigger than wave one in expanding diags. also in contracting ones wave 3 doesn't have to be smaller than 1.
and diags don't have to overlap anymore. example. 4 doesn't have to enter territory of 1.
finishing up the e-wave and let's see it rip