XRPMYR is seen still rebounce on the h4 support that occurred in late August and early September. Let's see if the price can stay above the support or will break through and continue to plummet downwards
Nice impulsive 5 waves moving up from 20th July low.
Wave 3 high terminated exactly at 161% fib ext of wave 1, wave 4 correction at 32.8% of fib retracement of wave 3. Both are "textbook" guideline of elliott wave principle. Beakout DTL and break wave B of 4 which most likely on its way to wave 5 high. Expecting it to end between 6.37 and 7.14
target for bullish movement 7.88 minimum
cut los depend on your trading plan but take profit must obey to secure profit
happy trading guys
i hope can post more frequent
make trading simple
and manage money diciplined
thats the only rule to success
1. Bullish Butterfly pattern will be form if the price falls to point D. That the entry point (red line)
2. Next Fibo 1.41% is cutloss price at 4.00
3. My expectation the price will reach point D and reverse back to point B (white line).
If price retrace it is possible for the price to actually react at the yellow box as the Resistance has been broken by a Base/Bullish Engulfing/RBR in the Daily timeframe. Then we can target price to reach at the red line around 6 MYR. The reason is because at 6 MYR the price have made a significant bearish price movement before this.