TradingView
zmassey
Mar 4, 2019 11:51 AM

Wave 5 ended at 0.28 XRP/USD, Time for an Upward ABC correction. Long

XRP / DollarBitfinex

Description

I'm no expert in Elliott Wave theory but it just occurred to me that one of the main rules of Elliott Wave theory is that wave 3 cannot be the shortest of the three impulse waves. This means that wave 5 ended at 0.28 in February. If wave 5 is still in motion then that means wave 3 is the shortest wave, which would totally invalidate elliott wave theory. So based on Elliot wave theory I'm bullish on the basis of an upwards ABC correction from here. Also, think about the macro picture and how SBIVC, Temenos, R3 and many other institutions are all gearing up their engines for production in March.
Comments
Minitech24
Rule 3: Wave 4 can never overlap Wave 1.
KriptoTraderr
date 3's false, its date is May 29.Look at this...
More