Hi,
XRP has raided one of my buy zones and bounced. Hasn't touched the 0.618 fib what i was expecting but still i think it's a very nice buy order:] We have two options now again.
1] we push above the strong resistance (huge falling wedge trend line, H&S neck line, fib) right above the current PA and we confirm that we're already in the fifth wave (impulse wave) by impulsive continuation and pushing above 0.234$
2] we will make another leg down to the 0.618 fib finishing the C wave and then bounce strong (wave 5)
I'm in long position and i'll add to the position if we follow the option 2]
Stop-loss 0.20086$
XRP has raided one of my buy zones and bounced. Hasn't touched the 0.618 fib what i was expecting but still i think it's a very nice buy order:] We have two options now again.
1] we push above the strong resistance (huge falling wedge trend line, H&S neck line, fib) right above the current PA and we confirm that we're already in the fifth wave (impulse wave) by impulsive continuation and pushing above 0.234$
2] we will make another leg down to the 0.618 fib finishing the C wave and then bounce strong (wave 5)
I'm in long position and i'll add to the position if we follow the option 2]
Stop-loss 0.20086$
Trade active
We still don't have the confirmation that we're in the fifth wave. But we're pretty close to 0.234$ which will be the final confirmation for me. I made a draft of the possible wave 5 structure. I really like the upper target!!
Trade closed: target reached
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.