OK Ladies and Gentlemen,
Time for a quick update on XRPAUD. It seems we are undergoing a complex correct in the Triangle shown in RED inside wave 2(PINK).
From here we have Four scenarios:
1. We are on 5 wave ABCDE pattern(Orange) inside the Red Triangle after which it may go down for Wave 3(PINK).
2. ABC flat correction is over and we are on WX...
We have possibly been in a long flat correction since Feb 2009 with WXY pattern marked above(GREEN).
We have not been able to break the red line.
Currently in Wave C in Wave XY.
From here we can either go for XZ wave and go for triple correction(Green Wave) OR Break the red line and go for a C leg up(BLUE WAVE).
Lets see how it goes.
This is for education...
If we have a Lower Low below the red line it will be a confirmation of an ABC correction.
Wait for the retrace of Wave B and try to enter a Short position on Wave C.
This is for educational purpose only.
Possible Wave count of AUDUSD shows we are in B Wave Correction in Triangle with sub wave ABCDE.
Possible entry is above (b) inside the (E) Wave and above the Blue Line.
This is educational purpose.
Possible Wave count for AUDUSD H4. A bullish divergence has formed(Red Lines) Between Wave 3 and wave 5 indicative the end of Impulsive Wave and start of Corrective wave.
Also note the Triangle forming(Blue Lines) indicative a continuation of upward trend.
XRPUSD H4 I can see:
2-Golden Cross over on EMA.
3-RSI shows overbought position for the first time in about a week, usually it has been below 60%. This could be a possible bullish sign as more buyers are willing to Buy and hold XRP.
Share your thoughts.
XRP 4 Hourly chart shows a bounce on the 0.618 FIB Level(Golden Ratio) which shows a significance resistance level at that point.Divergence is also noticed on the Stochastic charts. Possible start of Wave 3, However I do not see any Divergence on Awesome Oscillator. Possible entry point for a good trade but I would still wait and watch how it turns up.
Hi I see some positive reversal signs on ETH/USD
1-Two Hammers at the bottom and upward trend after that.
2-AO is going up that means negative momentum is dying.
3-Stoch is going up that means people are buying it.
I will monitor this chart and wait for more signs before making a possible entry on ETH.
Remember this is just one of the possibilities and this...
Following up with my yesterdays chart where I drew impulsive wave I have further confirmations that XRP is about to reverse.
1-Wave 2 is confirmed by the negative AO
2-Stochastic is less than 20% and going up.
Once we see a hammer and price range crosses the end point of wave 1 we will have the third and final confirmation for a reversal and we...