Following our previous extremely successful analyses on Ripple (www.tradingview.com/...n-Buy-Opportunities/) and their updates on further buy opportunities (www.tradingview.com/...n-Buy-Opportunities/), we are now seeing the potential of another more complex pattern in the making.
As we discovered that Verge seems to be preceding in time the movements of all the other major cryptocurrencies, we now are seeing that this could give us one small, however extremely useful, competitive advantage. If we look at the correction that Verge has just completed on the daily, we can clearly see that the "A" leg of said correction is actually "hidden" in the major impulsive movement that this and all cryptocurrencies had to the downside. If we assume that this applies to all the other cryptocurrencies, which have very similar charts, then going back to our Ripple chart we can see that the running flat type correction it is currently forming is actually much bigger (ABC with letters in parenthesis). This would mean, for us, that XRPUSD has a lot more to go to the upside, before completing the correction. Having said that, what is interesting to us at the moment is that Ripple is just finishing another small regular flat type correction, which, considered all of the above, represents another buy opportunity.
In relation to cryptocurrencies, let us remind all traders that any attempt of forecasting based on wave and structural analysis has to be taken in a very conservative manner, as these financial instruments could not have been traded in the markets for a long enough time to consolidate their structure and make a valid projection possible.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.
As we discovered that Verge seems to be preceding in time the movements of all the other major cryptocurrencies, we now are seeing that this could give us one small, however extremely useful, competitive advantage. If we look at the correction that Verge has just completed on the daily, we can clearly see that the "A" leg of said correction is actually "hidden" in the major impulsive movement that this and all cryptocurrencies had to the downside. If we assume that this applies to all the other cryptocurrencies, which have very similar charts, then going back to our Ripple chart we can see that the running flat type correction it is currently forming is actually much bigger (ABC with letters in parenthesis). This would mean, for us, that XRPUSD has a lot more to go to the upside, before completing the correction. Having said that, what is interesting to us at the moment is that Ripple is just finishing another small regular flat type correction, which, considered all of the above, represents another buy opportunity.
In relation to cryptocurrencies, let us remind all traders that any attempt of forecasting based on wave and structural analysis has to be taken in a very conservative manner, as these financial instruments could not have been traded in the markets for a long enough time to consolidate their structure and make a valid projection possible.
If you feel that our analyses and views may be a useful complement to your trading strategies and in order to be notified in real time with our updates on the lower timeframes, please remember to click on the Follow button.
Remember that you can double check the bigger structures that are at play are on the weekly and daily time frames also by scrolling around the charts in the lower 4hr and 60min timeframes (right and left, up and down).
Trade with care and only with a backtested strategy that has proven to work in relation to your invested capital, risk appetite and potential small losses you might incur in before profiting from a good trade.
Thank you for viewing.