Dissecting XRP through Elliot Wave Theory
Updated
The major corrective movement ends the major wave (2) as the price reached 0.17 dollar in mid December. Now the price is entering major impulsive wave (3).
Here comes the dissection...
Wave (3) consists of (i)-(ii)-(iii)-(iv)-(v). As you can see from the chart, wave (i) is finished, we now expecting wave (ii) to play as a corrective move from impulsive (i). I highly expect that wave (ii) to be zigzag because the A wave turns out to be 5-waves impulse.
Now we are in B wave, I expect the price to retrace back to the yellow box more or less before continue to drop finishing wave c in lower box.
This Analysis is just 1 of many possible scenarios, but I quite confident about this.
Cheerss
Here comes the dissection...
Wave (3) consists of (i)-(ii)-(iii)-(iv)-(v). As you can see from the chart, wave (i) is finished, we now expecting wave (ii) to play as a corrective move from impulsive (i). I highly expect that wave (ii) to be zigzag because the A wave turns out to be 5-waves impulse.
Now we are in B wave, I expect the price to retrace back to the yellow box more or less before continue to drop finishing wave c in lower box.
This Analysis is just 1 of many possible scenarios, but I quite confident about this.
Cheerss
Note
Okay, its heading right like the red arrow. So The B wave is completed, it only fulfilled half of the red arrow but its fine. Now i'm waiting wave C, whether it come to my target range or not.
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