Normally I would only do one chart a day, and update that chart with additional charts and comments, but the change in direction is significant enough to take another fresh look...
The chart I posted this morning did a fake out, hit 0.786 extension of Wave 1 (A) then very quickly reversed with a significant push upward. This would appear to confirm the completion of the ABC correction wave and the start of a new Impulse wave. Initially we would be looking at 0.37, both the 1.272 fib of the higher degree Wave 1, and HA S1... but non-HA S2 is sitting just below at 0.36, also the 1.00 fib. A break above 0.3582 would be required for Impulse wave confirmation.
I have a bias to the upside based on my own significant investment into XRP. I must then look for a contrary signal to my bias, which honestly, is pretty easy right now. There is significant probability we are in an ABC higher degree wave, and this would be the C wave. The completion of this C wave would then follow with a push to 0.30.
The chart I posted this morning did a fake out, hit 0.786 extension of Wave 1 (A) then very quickly reversed with a significant push upward. This would appear to confirm the completion of the ABC correction wave and the start of a new Impulse wave. Initially we would be looking at 0.37, both the 1.272 fib of the higher degree Wave 1, and HA S1... but non-HA S2 is sitting just below at 0.36, also the 1.00 fib. A break above 0.3582 would be required for Impulse wave confirmation.
I have a bias to the upside based on my own significant investment into XRP. I must then look for a contrary signal to my bias, which honestly, is pretty easy right now. There is significant probability we are in an ABC higher degree wave, and this would be the C wave. The completion of this C wave would then follow with a push to 0.30.
