Hi,
I'm learning the WXYXZ pattern and I thought this would be a good example of it for me to practise. Can someone who's experienced let me know why this is wrong?
Thanks in advance.
Would like the opinion of any PRO chart analyst on this chart.
What I see is XRP daily forming an inverse head and shoulders.
If plays out XRP will form the right shoulder between 2nd and 5th Mar. When it hits the Purple fib circle/Upward support and the 0.27 support around 26th and 29th FEB I expect XRP price to drop to that 0.22 mark. And the start the reversal...
I have added a new fib circle from .32 to the bottom 0.17 which correlates with the price action. Since the 0.17 bottom now travelling on an up trending channel, which broke the long term(2017/18) resistance line(Green trend line). Which just now broke through (on Binance 1HR chart) 0.2474 resistance. Lets see if this trend will break the 0.27123 resistance.
