Long

XRP / BTC - one more push up to confirm THE RETURN OF THE BULLS!

Updated

XRP / BTC:

it seems that we are currently putting in the waves D and E to complete wave 4 of one larger degree;
this means that we'll soon be going up for a wave 5 to complete wave 1 of a larger degree.

then down for a shallow 2 as this is in fact all part of a wave 3 of a larger degree, so brace yourselves!

there are alternate counts that could possibly take us lower, but i think this is the most PROBABLE outcome.

Happy trading and remember that the BULLS ARE COMING! :D

Note

Update:
wave D is in, now we wait for wave E (much like my setup on xrp/usdt), then the leg up for a wave 5, to complete the wave 1 of a larger degree. :)

so far on track

Trade active

long position triggered, i think we still have a bit more to go to put in the E but always front run position entry slightly to make sure it goes through, and go through it did :)

and here's a closer look at the position i entered, the two dashed blue lines were my orders, it took just one wick slightly passed it to go through :D

will keep updating as the trade progresses. stay tuned...

Note

update:
due to the complex nature of the A - E corrections and the fractal nature of EW theory, often times, the E wave can subdivide into an extension triangle of its own, consisting of another A - E wave structure on a smaller scale

and here is a larger scale view:

Trade closed manually

XRP / BTC update:

I started to notice that this might be the setup instead, not a big deal, but it means that we could be still putting in the ABC correction for wave 4, with the B wave forming an ABCDE triangle.

first reason for this is that the A wave has a 5 wave structure ( this can still be looked at as a 3 wave depending on the count, but it looks like its possibly a 5 wave structure).

this means that the ABCDE correction starts at the bottom and therefore will result in a break down of the triangle rather than a breakout.

Also there is a descending triangle forming on the RSI that doesn't look too promising.

A good trader, always should minimise losses and maximise wins, this setup was not a good enough R:R ratio to warrant the risk.

It may well still breakout, but Im not going to take that chance.

you can see here that it could put in a double bottom or go slightly further before setting up for the 5th.

Note

Update:

here's a revised count, i think that we are still in the ABCDE correction, but that this is only a B wave, and once comeplete we will go down for the C before moving up:

and here are the projected targets, once we reach the C wave.

Note

so we've hit the target zone as we see below:

and here are the projected possible target zones if we go up to put in a 5th:

there is however a chance that we are still correcting the bigger picture, in other words the final wave down of the bigger picture to put in a Z wave, but lets see..

ilaxrp

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