The target I set for 0.39 just got hit. The push up yesterday increased the possible target for Wave 5 of this Minute Wave with the 1.0 fib ext sitting at 0.415. Ripple has a hard time with its Wave 5's, rarely actually hitting that 1.0 fib ext, oftent stalling at 0.786 or even 0.50. However, with the Monthly Pivot sitting at 0.41, and the HA Monthly Pivot at 0.43, there are pretty good odds that we will actually hit the 1.0 fib ext of Wave 3.
After Wave 5 is complete we can expect a retrace to the 0.36-37 level, unless of course it stalls at the 0.618 fib ext which it already appears to be threatening to do, then a retrace to 0.35 is likely.
4H Fisher is about to pass the first warning line, and 4H RSI trend-line will break down within the next 2 days.
All of this lines up to a retrace one way or another and gives us the opportunity to grab 0.04-6 in total position.
I am still holding from 0.31. I do intend to capture this wave as long as it doesn't happen when im sleeping.
After Wave 5 is complete we can expect a retrace to the 0.36-37 level, unless of course it stalls at the 0.618 fib ext which it already appears to be threatening to do, then a retrace to 0.35 is likely.
4H Fisher is about to pass the first warning line, and 4H RSI trend-line will break down within the next 2 days.
All of this lines up to a retrace one way or another and gives us the opportunity to grab 0.04-6 in total position.
I am still holding from 0.31. I do intend to capture this wave as long as it doesn't happen when im sleeping.
Comment:
There are a few big sell walls on Bitstamp, about 1,000,000.. no joke, between 0.39 and 0.41.
Comment:
It appears Wave 5 ended at my original target of 0.39 and will not extend to 0.41-3.
Comment:
If you got out at 0.39 look for entry between 0.35-6, the 0.382 fib retrace of the last series
Comment:
I want to re-iterate that 0.39-40 was my target for a retrace of the Minor Wave series that played out over much of the last month. This move up could still just be a retrace of that series which would mean we would resume the downward trend.
Stopping at 0.28, just shy of the low at 0.24, puts in a double bottom. This would be bullish. That said, I want to avoid being biased to one side or the other so I want to make it clear that we are not technically in a full on bull trend quite yet.
Stopping at 0.28, just shy of the low at 0.24, puts in a double bottom. This would be bullish. That said, I want to avoid being biased to one side or the other so I want to make it clear that we are not technically in a full on bull trend quite yet.
