I think it's worth bearing in mind that we could see some significant downside during the lull at the end of Q1. Red for Valantines, Green for St Patrick's.
This shows how we may never have transitioned into wave 2, but may actually be about to finish wave 1 as a leading diagonal.
We could be looking at wave 2 as a running/ expanding flat, in which case we see a...
I think it’s worth bearing in mind that we could see some significant downside during the lull at the end of Q1. Red for Valantines, Green for St Patrick’s.
This shows how we may never have transitioned into wave 2, but may actually be about to finish wave 1 as a leading diagonal.
We could be looking at wave 2 as a running/expanding flat, in which case we see a...
I’ve been quite confused for a while, but structure, volume, indicators, all of which have been bugging me, now stack up quite neatly with the idea that this is a running flat.
XRP never left wave 2, which is why the “breakout” looked like it failed.
So, I’ve updated my wave count to better align with what has happened, and discovered something I had missed in the process.
What I thought was wave E is probably better explained as a part of wave D, and the recent breakout was the final leg of wave D.
Wave D in a triangle often ends with a breakout attempt, and my anticipation in seeing it earlier but it not...
This is the first correction outside of the wave 2 contracting triangle, and is recreating it in miniature.
My bias is that this triangle fails and price retests the top of the primary triangle. A failed minor triangle will put the willies into traders that the primary triangle will also fail.
I will be standing by trying to assess each step, and although I...
Wave 2 correction has printed a symmetrical triangle, and has conformed quite tightly to it. I had been watching for this pattern from wave B top at $2.73, and wave C confirmed it. Wave d downtrend caught me slightly off guard, and wave d rally came slightly sooner then expected, but ultimately it’s what I have expected.
Wave e is likely to stay rangebound, with...
