First, before you jump on here lecturing me about Elliott Waves and counting, you should know that I am NOT counting this in true Elliott Wave form! But rather, I am using a 5 wave counting system, in order to display, how each structure is broken down, and how each structure compares to one another. From a previous chart which compares XRP's price during the 2017 to 2019 correction, I have chosen to start this comparison from the large orange X-Wave and moving forward, so that, we can break it down and get a closer look at the fractal pattern!
So what should we expect? As I see it, in order for this pattern to continue, price can afford to drop lower, maybe $.19 - $.17, which would complete the "Expanding Diagonal", but it would really need to "pop" back up, and move above the green line that I've displayed inside the expanding diagonal, and then hold above it, thus ultimately ascending back up to re-challenge the $.40 - $.46 area. OR, the last leg of the Expanding Diagonal is now complete, and price begins to move higher from here....we wait and let the market decide! Remember, patterns can change or modify within themselves, there are NO absolutes!
Lastly, I wish I had a nickel for every time someone called me an, "Idiot", or ridiculed my work....I'd have a lot of nickels! I'd have even more nickels for every time someone plagiarizes my work too! LOL!
Regards!
So what should we expect? As I see it, in order for this pattern to continue, price can afford to drop lower, maybe $.19 - $.17, which would complete the "Expanding Diagonal", but it would really need to "pop" back up, and move above the green line that I've displayed inside the expanding diagonal, and then hold above it, thus ultimately ascending back up to re-challenge the $.40 - $.46 area. OR, the last leg of the Expanding Diagonal is now complete, and price begins to move higher from here....we wait and let the market decide! Remember, patterns can change or modify within themselves, there are NO absolutes!
Lastly, I wish I had a nickel for every time someone called me an, "Idiot", or ridiculed my work....I'd have a lot of nickels! I'd have even more nickels for every time someone plagiarizes my work too! LOL!
Regards!