ββ Preferred count β XRP / U.S. Dollar (BITSTAMP), πTF: 1D Fig.1
The formation of a within the intermediate wave (X) continues. The idea was proposed at the top of wave B, in September 2021. At the moment, sub-waves A, B and C have been formed, then a zigzag develops in the sub-wave D of (X). ____________________________________ β XRP / U.S. Dollar (BITSTAMP), πTF: 10h Fig.2
Based on the guideline of alternation of waves "A" and "C" in a zigzag, it is expected that the sub-wave β of D will take the form of an impulse or a . The target for wave D is the level 0.87900, upon reaching which the sub-wave β will reach 161.8% of β. ____________________________________ ββ Alternative count β XRP / U.S. Dollar (BITSTAMP), πTF: 1D Fig.3
The basic alternative wave counting has not changed. It is possible to hold a part of a long position based on the implementation of this wave marking. ______________________________________________ π Elliott Wave Guide & Ellott Wave Archive β¬οΈβ¬οΈβ¬οΈβ¬οΈ
Hi, Can you please post an update? Or does the same still apply?
BobbiSin
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Hi! Why do you consider that as a forming triangle but not just an ABC formation with a short C (about 62%)?
TradeWaves-EWA
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@BobbiSin, Hello! If possible, show your wave count on a chart.
BobbiSin
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@TradeWaves-EWA, I mean, using your chart markup. Could these red ABC be a contraction instead of a triangle ABCDE? Or, in that case, C should have been formed as an impulse?
TradeWaves-EWA
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@BobbiSin, In this case, wave C should have taken the form of an impulse or a ending diagonal. Also, wave C needs to exceed the length of wave B, i.e. go beyond the end of wave A.