We are looking for another touch to the Bullish Flag here shortly.
This morning's projection to ~4k was correct and now we have touched the top of the Falling Wedge for support. Bounce is coming back. Long positions are favored in this Projection to the 1.32 mark on the Cypher Pattern, touching the top of the Bullish Flag once again.
Comments
nlizotte
⋅
@thetazeta, Yes it is. I placed it along the Falling Wedge and the Symmetrical Triangle that formed together because of the strong support level that was given.
There are many patterns the converged and gave the buy signal. There were three solid buy opportunities today. So far, we're nailed them all. On the current chart you will find the 3 key support levels being created. They are slanted downward that follow the intraday trend Bullish Flag. This is key because the head and shoulders pattern failed, and rested on the mini channel that formed. Once we break that small pattern (consolidation and volume building period) we should be go for launch.
thetazeta
⋅
@nlizotte, makes perfect sense, thanks for the explanation. I'm learning tons from your posts - and cleaning up on XRP!
thetazeta
⋅
Nicely done, I've been following and you've nailed this.
I'm newer to this pattern - isn't D normally further down at .78 fib of XC? Just wondering what signals that D is complete to buy for the breakout.
Thanks, keep it up!
nlizotte
⋅
@thetazeta, The small patterns I noted are on the live chart as we speak.
thetazeta
⋅
@nlizotte, Thanks, I was looking at the wrong chart.
There are many patterns the converged and gave the buy signal. There were three solid buy opportunities today. So far, we're nailed them all. On the current chart you will find the 3 key support levels being created. They are slanted downward that follow the intraday trend Bullish Flag. This is key because the head and shoulders pattern failed, and rested on the mini channel that formed. Once we break that small pattern (consolidation and volume building period) we should be go for launch.