TradingView
OmarJundi
Feb 25, 2018 6:55 PM

XRP to moon  Long

XRP / U.S. dollarBitstamp

Description

XRPUSD

As per shown elliot wave count it looks like Ripple is going to moon to complete wave (v) after finishing the long correction.
Comments
GREENWAVES
1.2$ is not to the moon.
protechtor
Just a suggestion...
Your (iv) wave is way out of proportion with waves (i) - (iii). While your count doesnt break any rules, it does not fit classic elliott wave look of an impulse wave.
I would consider relabelling the bull move starting on the 6th as an impulse wave (wave 1), possibly with a truncated 5th wave where you have labelled wave (B) if you want to keep the bullish count. That would put us in a wave 2. Truncated 5ths are rare, but possible... and the key to elliott wave is identifying the impulse wave look. Better to label an impulse wave with the right look and a truncated 5th than a 4th wave that last 2 weeks when all other waves lasted 1-2 days max.

stockcharts.com/school/doku.php?id=chart_school:market_analysis:guidelines_for_applying_elliott_wave_theory
OmarJundi
@protechtor, Thank you for the feedback much appreciated.
More