RIPPLE - $XRP - Wave 3 - To the moon is too close, go beyond!!! WAVE 3 in progress! The best time to buy is now!
I'm LONG / BULLISH position. I expect that $XRPUSD will rise up.
This would mean that RIPPLE will gain more value against USD .
What is the right way? Looking for relevant timeframes, with patience and planning, NO DESPERATION .
No one goes into the market thinking they should buy at the high and sell at the low. The problem is that at the moment when faced with the ups and downs of the market, it’s hard to resist the urge to do those things.
Trading is all about spotting emotional excesses either to the downside or the upside. You want to be on the right side of those emotional reactions and not the wrong.
If you want to win in this market, you need to be COLD and CALCULIST .
To the moon is too close, go beyond!!!
Well, keep you updated as this timely issue evolves.
Good luck!
#CRYPTO $XRPUSD #XRPBTC #XRP #RIPPLE #ALTSEASON2020
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#altcoins #bitcointrading #BuyTheFear #BuyTheDip
#CRYPTO #XRP #XRPUSD #XRPBTC #RIPPLE
XRPLX trade ideas
zig zag patternhi all, I see a 3 wave down at the start which can only be a zig zag, I also see a 3 wave down which has just been completed. This could be the end of the correction and the start of a new 5 wave up.
XPRLets eat this pair together over the w'end as the market momentum in forex stops... The SL and TP all have been put in place.
Elliott Wave Patterns & Fibonacci Relationships Reference GuideElliott Wave Theory attempts to identify recurring price movements within financial markets and to classify them into a set of meaningful patterns, which can become a reliable tool for future price predictions. The underlying principle is that price-action unfolds via an endless alternation between trending and corrective cycles, while producing this effect on any relative timescale (Fractality) .
Elliott Wave (EW) price patterns are divided into motive waves (i.e. price movements that initiate progress in one direction and therefore create trend) and corrective waves (i.e. price movements that are reactionary in relation to the previous trend-setting move) . Corrective waves essentially attempt to revert or undo the movement that was initiated by the preceding motive wave.
How to use this guide
This EW reference guide provides an idealized drawing for each EW pattern, including a visualization of the most important internal wave size relationships. The images highlight the most common wave retracement and extension targets in red, followed by the next most common targets in orange, followed by the least common targets in grey.
Important Concepts To Remember Before Applying EW Counts
Wave Degrees
Elliott Waves are labeled in different degrees that are nested within each other due to the fractal nature of price movements. Please refer to your Elliott Wave drawing software for the appropriate names and symbols used for each officially defined degree. Alternatively, you may simply label different degrees with different-colored labels on your chart.
Alternation (“expect a difference in the next expression of a similar pattern”) :
EW patterns have the tendency to create alternation within them. This is reflective of nature’s general propensity towards dynamic balance. Following is a list of the main occurrences of alternation:
Alternation of corrective waves:
If wave 2 is sharp (i.e. zigzag or extended zigzag) and deep (i.e. deep in the sense of how much it retraces the preceding wave 1), then wave 4 will most likely going to be sideways (flat, combination, or triangle) and shallow relative to wave 3. The same applies in reverse but is less common. This is because triangles (which only appear during wave 4 inside a motive wave) are considered to be alternating to all other corrective patterns. That means even if wave 2 is a shallow sideways correction, a triangle can still appear in wave 4, but it is less likely.
Alternation also occurs in terms of wave complexity. If a potential bigger complex correction starts out simple at first, then expect complexity to increase during the following parts of the correction (i.e. simple-complex-most complex). The reverse can also apply (i.e. most complex-complex simple) but it is more rare.
Alternation of motive waves :
If wave 1 is short, then wave 3 is likely to be extended, and wave 5 likely to be short again. If wave 1 is extended, then wave 3 and 5 are most likely not extended. If neither wave 1 nor wave 3 is extended, then wave 5 probably will be extended. If wave 3 is extremely long and overstretched, wave is 5 more in danger of being truncated.
Balanced Proportions (“The Right Look”) :
It is important that waves within a 5-wave or 3-wave sequence show reasonably balanced proportions to each other… not just in terms of size/magnitude (which can generally be verified by Fibonacci retracement and extension ratios), but also in terms of time duration . This balancing can occur either via alternation and/or via equality.
Consider the following as an example for ‘balance through alternation’ : an impulse is showing a classic deep and short-lived wave 2, plus a shallow but time-lengthy wave 4. The time-lengthiness of wave 4 is in balance with the depth of wave 2, while the shallowness of wave 4 is in balance with the short-lived nature of wave 2, thereby creating balance through alternation.
The same need for balance applies for any motive waves within a 5-wave sequence (i.e. 1,3, and 5). The exception however will be the potentially extended wave within the sequence. It can/will be much larger in terms of magnitude and time than the other four waves, but the sub-waves (inside the extended wave) must show a balance to each other. The extended wave will also express relatedness to the other waves of the sequence by the angle of the overall price movement (that’s why impulsive motive waves travel quite neatly within parallel channel lines most of the time, even if one of the waves is extended).
Consider the following as an example for ‘balance through equality AND alternation’ . Wave 1 and 5 of an impulse sequence are equal in size and duration (equality), while wave 3 is extended (alternation to waves 1 and 5).
Alarm bells should be going off when a potential wave 4 is starting to grow out of proportion in terms of size and duration relative to the other waves of the same degree.
It is dangerous to disregard the factor of balanced proportions during wave counting. Disproportionate and misshapen patterns should be seriously questioned.
The ‘right look’ may not be evident at all degrees of trend simultaneously, so it is best to focus on the degrees that are the clearest.
