BITSTAMP:XRPUSD made nice three-wave correction back to previous wave IV with (a) = (c) equal legs and hit exactly 1.60 level as we expected. This is actually perfect setup in Elliott Wave theory and exactly, what we are looking for trading opportunities. But we have to wait for confirmation, which is a break above channel resistance line and to be sure we need a break above 2.80 level, which would confirm that Ripple is back in bullish trend. If Ripple from any reason breaks lower beneath 1.60 level, then we may adjust the view.
Comment
⋅
Ripple is still trading near support line and despite the fall we are still looking to bounce around this support zone, because pattern from 4th January looks corrective. Just keep in mind that we are not bullish yet! We are waiting for confirmations as said above. So, we need an impulsive leg up first, then we will looking for long opportunities.
Comment
⋅
Nice bounce from support, but we are still waiting for confirmations. On a lower timeframe we want to see five waves up, which would confirm reversal.
Comment
⋅
NEW! VIDEO ANALYSIS!
Comment
⋅
Comment
⋅
Ripple is still trading above strong support, so we still think that Ripple may see higher levels from here, at least for three waves (a)-(b)-(c) up towards 2.5 level. But as said above, if Ripple breaks above 2.8 confirmation level, then we will probably be in a third impulsive wave up towards new all-time highs.
Great count. Sick of seeing bad EW posts on here so nice to see a proper EW counts!
I've been following this as well and have a similar count so looking to go long as this could be wave 3 Long starting!
TomPower
⋅
@donaldsaw, don you are not the only one, sick of the garbage, greg is as pure as they come
donaldsaw
⋅
@TomPower, I've been studying EW for the past 4 years, and now I'm becoming very sharp so appreciate good counts. I use Motive Wave though so most of my counts aren't on here as Trading View is rubbish for EW. Thanks
donaldsaw
⋅
@TomPower - My count is slightly different as I have the impulse complete but I'm bullish too.
UnknownUnicorn995432
⋅
Any updates? Thanks
ew-forecast
⋅
@doctorkesh, we will publish new idea soon, but you can google us and you can find a lot more about Cryptos!
canmumcuoglu
⋅
update ?
Tony_Wolf
⋅
Yes, tx for the updates. I am also a follower, but the Westernunion and Moneygram news fueled the uptrend and this simply could not be predicted... unless u r an insider...?
I will keep on visiting, keep up with the good job. Tx.
ew-forecast
⋅
@Tony_Wolf, This commentary box is not big enough I believe to make a respond to this, so only thing that I will say is 1. "believe in what you are doing", and 2. #Elliott Wave is based on crowd psychology and investors mood".
I know crypto is something new, other world of finance, different technology etc., but "Psychology of market participants" remains the same.
I've been following this as well and have a similar count so looking to go long as this could be wave 3 Long starting!