XRP Near to Possible parabolic breakout Long

XRP / U.S. dollarBitstamp

Description

⋅ Oct 17, 2021 9:33 AM

It seems that we are about to breakout of the second triangle pattern which XRP formed during the current bull market.

The breakout would confirm an eventual wave 5 of the current structure being formed since beginning of november 2020.

How to trade this?

Wait for breakout of the triangle towards the upside, then buy the re-test at approximately 1.17$

The targets if breakout is confirmed should be:

1) 1.37$
2) 2$
3) 4.10$ expected new ATH

If we breakdown, stop-loss will be set at approx. 1$

Hope this helps!

Happy Trading

Order cancelled

⋅ Jan 5, 2022 4:05 PM

Comments

yannisasimako

⋅ Oct 17, 2021 1:10 PM

Two remarks that could potentially cause your wave count to be skewed:

- corrective wave 2 bottoms below the start of wave 1
- wave 4 can't be lower than the peak of wave 1

samideluxe

⋅ Oct 17, 2021 5:37 PM

@yannisasimako, thanks, i noticed it after posting. Wave 1 count possible starts lower in July.
For the 4th wave it's screwed.

samideluxe

⋅ Oct 17, 2021 5:39 PM

@samideluxe, at least it could follow a similar pattern than the first triangle, and it is in a channel of sorts

yannisasimako

⋅ Oct 17, 2021 6:32 PM

@samideluxe, or your wave 3 is actually wave 1 and we're gearing up for wave 3 now :)

samideluxe

⋅ Oct 17, 2021 6:36 PM

@yannisasimako, that would be mind-blowing, i dunno

comprehensiveC26854

⋅ Oct 18, 2021 5:05 AM

Breakout of triangle to wave 5. Wave 5 is actually wave 3 of a larger macro structure. Brad is a devious s.o.b, pbly timing something wt media release... xrp to the moon.