Hi, what’s up everyone!
Looking on the 1D using FIBS I’ve set up two scenarios, BULL and BEAR. Before we move forward when I say LH, this means Lower High and when I say LL, this means Lower Low.
If we are to understand where the future price can potentially go, we need to understand how the price got to where we currently are. By looking at the previous LH (A) and the previous LL (B) the price retraces precisely at 0.618 (C) creating a new LH which extends perfectly at the 1.414 (D).
As for how FIB extensions work, typically these ratios are in sync:
0.382 = 1.618
0.618 = 1.414
0.786 = 1.272
Now that we know how the price made its previous move we can plot our potential targets for the short term, as to where XRP might possibly end up. This is the tricky part because I’m no magician!
BEAR SCENARIO
If we follow the new LH (A1) to the new LL (B1) the price begins to retrace precisely, once again at 0.618 (C1). Knowing that 0.618=1.414 we could ‘predict’ that the price will once again move to downside and reach our extension at 1.414 (D1) at a price of $0.07208.
BULL SCENARIO
If the pattern were to move to the upside, we would now calculate the FIB ratio where the price got support from. If we follow the new LH (A1) to the new LL (B1) the retracement indicates 0.618 (A2) and if it were to move towards the synced ratio, we could ‘predict’ that the price will move to 1.414 (B2), $0.53852.
Which scenario do you think will play out? BULL or BEAR?
If you enjoyed this analysis, please give me a LIKE as your support means a lot and goes a long way in helping others find this post.
Make sure to leave a comment as I always love hearing from everyone!
Looking on the 1D using FIBS I’ve set up two scenarios, BULL and BEAR. Before we move forward when I say LH, this means Lower High and when I say LL, this means Lower Low.
If we are to understand where the future price can potentially go, we need to understand how the price got to where we currently are. By looking at the previous LH (A) and the previous LL (B) the price retraces precisely at 0.618 (C) creating a new LH which extends perfectly at the 1.414 (D).
As for how FIB extensions work, typically these ratios are in sync:
0.382 = 1.618
0.618 = 1.414
0.786 = 1.272
Now that we know how the price made its previous move we can plot our potential targets for the short term, as to where XRP might possibly end up. This is the tricky part because I’m no magician!
BEAR SCENARIO
If we follow the new LH (A1) to the new LL (B1) the price begins to retrace precisely, once again at 0.618 (C1). Knowing that 0.618=1.414 we could ‘predict’ that the price will once again move to downside and reach our extension at 1.414 (D1) at a price of $0.07208.
BULL SCENARIO
If the pattern were to move to the upside, we would now calculate the FIB ratio where the price got support from. If we follow the new LH (A1) to the new LL (B1) the retracement indicates 0.618 (A2) and if it were to move towards the synced ratio, we could ‘predict’ that the price will move to 1.414 (B2), $0.53852.
Which scenario do you think will play out? BULL or BEAR?
If you enjoyed this analysis, please give me a LIKE as your support means a lot and goes a long way in helping others find this post.
Make sure to leave a comment as I always love hearing from everyone!
Trade closed: target reached:
MISSION ACCOMPLISHED.
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