Nickonomics

Ripple (XRP): Trading the Breakout

BITFINEX:XRPUSD   XRP / U.S. Dollar
Ripple is absolutely great when it comes to breakout pattern. Here we are presented with two possible scenarios:
1. The break to the downside (7-11% potential) implies the formation of a standard 5--waves Triangle;
2. The break of 0.70 pivot area will pave the way to 7708-7800 (9.5% potential). This would imply the formation of Inverse Head&Shoulders pattern.
The trigger levels are presented on the chart.
Comment: Wave D is likely in place. Mind that it can still be a 4-wave pattern (bullish).
Comment: Trendline re-test:
Trade closed: target reached: Target reached, +8%. More downside later.
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Comments

Accurate in goal!
+2 Reply
Wave E start?
+2 Reply
Nickonomics UnknownUnicorn1690289
@UnknownUnicorn1690289, Most likely, it has just begun.
+1 Reply
roeer Nickonomics
@Nickonomics, thanks alot
+1 Reply
Thanks very much for the TA on XRP.
+2 Reply
One of the few traders, that trades steadily in any market. Thanks for another idea!
Reply
whats the math here??
7-11% + 9,5% = ~20%
Whats the other 80%?
obviously it broke down.
Reply
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