I'm expecting XRPUSD to continue with its bullish trend in the longer term, however in the short term im expecting to see ABC correction (D1) or a consolidation structure (triangle or so). Short term plan - looking for sells. Mid term plan - buys,
Price has reached a key resistance zone. I'm looking for another wave up that will also complete a bearish divergence on the H4 chart.
D1 - suggests further move down towards 148.00 Breakout of a key level. Expecting continuation lower as long as the key zone holds.
In this pair my short term view was bearish and I was expecting the price to move lower further towards the two key support zones. On the H1 chart, the price action followed my analysis exactly as I expected it to. The price moved lower further and provided a fantastic move to the downside and reached the first key support zone until it was blocked by a bullish...
H1 - bullish convergence. We are now re-testing the breakout. As long as the swing low holds i would focus on short term buys.
H4 - expecting triangle or ABC corrective pattern. In either case looking for sells in the short term could be a profitable idea as long as the risk reward ratio meets your trading criteria.
D1 - expecting to see another wave down. The assumption at the moment is, that we have first leg down, followed by range/zigzag/consolidation and we are about to see another wave down.
D1 bearish divergence H1 impulsive structure down Looking for pullbacks and sells
H4 impulsive move followed by flat consolidation Looking for sell opportunities near the top of the consolidation for the best risk reward ratio. Expecting the price to continue lower and form a new swing low on H4.
In Bitcoin my view was bullish and I was expecting the price to move higher further after the consolidation. On the H1 chart, the price action followed my analysis exactly as I expected it to here. The price which was moving inside a consolidation broke above the top of it and then it moved higher further and provided a fantastic move to the upside! Original Idea
D1 - key support zone H1 - potential impulsive structure (expecting wave 5 now) I expect consolidation and continuation up
D1 - potential bearish divergence along with resistance zone H1 - multiple false breaks + bearish divergences Expecting continuation lower once and if we get a reversal (break and close below the H1 level) confirmed by MACD as convergence.
D1/H4 breakout of the consolidation zone H1 - impulse Looking for pullbacks and buys
D1 - bullish divergence + false break H4 - bullish divergence + convergence H1 - impulsive structure Looking for pullbacks and buys.
D1 - potential yet (not completed) bearish divergence + double top H4 - bearish divergence + bearish convergence Looking for pullbacks to be sold. Invalidation - 1.9980
D1 - bearish convergence H4 - looking to sell the pullback
D1 - slow down of the bearish trend + bullish divergences H4 - bullish convergence Expecting at least one more leg up as long as the swing low holds.
W1 - bearish divergence D1 - bearish divergence + bearish convergence H4 - ABC correction with a potential TL breakout Looking for a breakout below the most recent H4 low to confirm the bearish pressure. Invalidation the last swing high of H4 chart.