Hello Traders Investors And Community,
XRPUSD is forming interesting price-actions these times as the cryptocurrency market is showing highly mixed signals with Ethereum and Bitcoin already formed a breakout above important resistance levels XRPUSD is forming also a meaningful formation here important to look at, therefore I detected all the significant levels and likely outcomes we should consider with the established structure and the upcoming destinations XRPUSD will show up with.
When looking at my chart you can watch XRPUSD forming this huge triangular-formation with the blue lines where it besides that established the wave-count in which it already completed waves A-B and now is about to form the wave C in the structure which is consisting of three waves A-C with the wave B currently forming as a bear-flag, when this bear-flag marked in my chart in black is confirmed to the downside such price-action will move on to form the major wave D in the structure and finally bounce within the lower-boundary and the lower-support lying there coherently matching with the 400-EMA in black, when XRPUSD manages to form some solid price-action within this level it can be the proper origin for a final breakout above the upper boundary and confirmation of the triangle-formation to the upside, which will then also show up with the right entry-setup as it is marked in my chart.
The next times will show how XRPUSD moves on to complete this whole formation and show up with the breakout, this mechanism can be traded either aggressively with immediate entry or conservative with entry after confirmation, although the aggressive entry is also possible here the conservative one will be much smarter as it will point to the final setup as mentioned, it will be definitely an interesting journey with good potentials ahead.
In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“There are many roads to prosperity but one must be taken.”
Information provided is only educational and should not be used to take action in the market.
XRPUSD is forming interesting price-actions these times as the cryptocurrency market is showing highly mixed signals with Ethereum and Bitcoin already formed a breakout above important resistance levels XRPUSD is forming also a meaningful formation here important to look at, therefore I detected all the significant levels and likely outcomes we should consider with the established structure and the upcoming destinations XRPUSD will show up with.
When looking at my chart you can watch XRPUSD forming this huge triangular-formation with the blue lines where it besides that established the wave-count in which it already completed waves A-B and now is about to form the wave C in the structure which is consisting of three waves A-C with the wave B currently forming as a bear-flag, when this bear-flag marked in my chart in black is confirmed to the downside such price-action will move on to form the major wave D in the structure and finally bounce within the lower-boundary and the lower-support lying there coherently matching with the 400-EMA in black, when XRPUSD manages to form some solid price-action within this level it can be the proper origin for a final breakout above the upper boundary and confirmation of the triangle-formation to the upside, which will then also show up with the right entry-setup as it is marked in my chart.
The next times will show how XRPUSD moves on to complete this whole formation and show up with the breakout, this mechanism can be traded either aggressively with immediate entry or conservative with entry after confirmation, although the aggressive entry is also possible here the conservative one will be much smarter as it will point to the final setup as mentioned, it will be definitely an interesting journey with good potentials ahead.
In this manner, thank you, everybody, for watching, have a good day as well as good trading, all the best!
“There are many roads to prosperity but one must be taken.”
Information provided is only educational and should not be used to take action in the market.
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