XRP finally showed signs of an impulsive wave after an inverse Head and Shoulders formation clearly visible on Daily Chart.
We are currently in Wave 2 which is reversing to form Wave 3. I have used Fibonacci extension for possible end point of Wave 3.
Wave 4 can not enter the region of Wave 1 and I have used support line from wave 2 to making possible starting point of Wave 4.
Before making a possible entry look for these confirmation signals:
1- Stochastic indicator should be less than 20% and moving up.
2- High volume visible on Awesome Oscillator.
3- Wave 3 has crossed ending of Wave 1.
Remember this is one of the possibilities so make sure you understand the pattern before you make a trade.
This is for educational purpose only and not a financial advice. Do your own research.
Regards
Sikandar
We are currently in Wave 2 which is reversing to form Wave 3. I have used Fibonacci extension for possible end point of Wave 3.
Wave 4 can not enter the region of Wave 1 and I have used support line from wave 2 to making possible starting point of Wave 4.
Before making a possible entry look for these confirmation signals:
1- Stochastic indicator should be less than 20% and moving up.
2- High volume visible on Awesome Oscillator.
3- Wave 3 has crossed ending of Wave 1.
Remember this is one of the possibilities so make sure you understand the pattern before you make a trade.
This is for educational purpose only and not a financial advice. Do your own research.
Regards
Sikandar