amourification

amourification Updated 

Hear me out. Santa is coming this year. Let's assume that the correction is over for the Christmas' sake, in a simple ABC zigzag, and we the low set at $1.9 was the local low. Right now, we could be simply in the beginning of the final impulse in 2024. From my point of view based on the subwave count, we could be waiting for a wave (3) of the intermediate...

amourification Updated 

Here we assume that XRP won't go after the ATH just yet. We will have to see if #Bitcoin chills out for a moment and starts either distributing or slightly correcting to $98-100K regions. We can then assume the corrective wave (primary W4) will be deeper or a more complex variant (here presumed an expanded flat). The flat correction would allow for consolidation...

amourification Updated 

This scenario presents a classic Ending Diagonal structure for Primary Wave (5), where XRP has likely completed Wave (4) near $1.90 and is now advancing upward to set new ATH. After entering price discovery and everybody FOMOs in, a significant portion of HODLers will start taking profits which will slow down the momentum and eventually leads to the formation of a...

amourification

The future is bright. So bright! Based on the Supercycle Elliott Wave counts, we can expect very promising targets for XRP. It won't be wishful thinking to raise the argument that we might never again see XRP below $1 till the next bear market. Ambitious targets? Hell yeah! Bear market coming? Hell yeah! When? Everything will happen so fast. The supercycle...

amourification Updated 

Since my last update, the EGX30 has precisely followed the narrative and wave counts. Right now we are headed to finalize wave 5 of the impulse. In the light of the escalating geopolitical tensions and the 2024 elections taking place in December 2023, there is a possibility for wave 5 to be much shorter than anticipated. Personally, I hope we break the 21000 EGP...

amourification Updated 

We had quite an impulsive run on EGX30 since summer 2022 with more than 105% gain however, nothing lasts forever :( We're due for a correction!! In the light of my elliot wave count, we should anticipate wave 4 to correct anywhere between 11 - 30%. I personally expect a 24% correction to meet the golden ratio (0.618 feb) for the retracement, with an invalidation...

amourification Updated 

I hope this time we can actually have a taste of the 0.6-ish range. I had to readjust the counts for a cleaner look. It got a little bit overwhelming and confusing with all the subwave counts, but with proper mentorship and guidance from my master, I can now see clearer counts.

amourification Updated 

I haven't done any analysis for the chart of BAND until that recent humongous candle, however, if there is only one rule in trading, it would be "whatever goes up, must come down". I can see a H&S pattern printed on the chart and the current price action tried to retest the neck line and failed. Will it unfold?

amourification Updated 

To step out from the frustration of the last move down that invalidated my original count, a little bit of zooming out and recounting was necessary. To be honest, the macro picture hasn't changed at all. I am still expecting more upside movement for XRP. Right now, we are nearing the end of a corrective wave that has retested a major support at 0.42-ish and so...

amourification Updated 

The corrective wave was long enough that it formed a parallel channel downwards. As of a few hours ago, XRP tested the lowest bounds of the channel at around 0.44. This still keeps the count for an ABC correction for Wave II valid. Now, if the overall market sentiment doesn't go south, we are primed for Wave III!

amourification Updated 

Following up with the previous idea, I believe for the shorter timeframes (<30 mins), we could be possibly in the making of smaller degree ABC correction to the downside targeting ≈0.45.

amourification

The market was more volatile than usual with the anticipation of CPI and other data release from the Fed. I anticipated some sort of a correction, but never entertained the possibility of going that deep. The positive side: I closed all my previous trades with my last update to the previous idea AND I also loaded a number of positions near the bottom of the...

amourification Updated 

Nothing much to say here. With BTC dominance and price movement, XRP is still where all the money flows to. It always feels good when you have the count right to the smallest wave!! Watch out for the correction, though..

amourification Updated 

With the current price action, and that we retraced back to retest the horizontal macro resistance (highlighted in pale yellow) that as of the time being acts as support, I think this could be counted as wave (1) instead of (3) with a truncated sub-degree wave 5 failing to exceed the price territory of wave 3 for (1). The smaller timeframes have the supporting...

amourification Updated 

XRP has been very interesting lately with a promising decoupling from $BTC. The sudden uptrend was followed by a minor downtrend that formed a classical "Bull Flag" pattern. XRP attempted to breakout from the flag, but the weight of the macro economics was devastating and led to XRP following a disappointing downtrend. As of NOW, it seems like we have a clear...

amourification Updated 

A few hours to the weekly close and we are still range bound for Bitcoin. The chart is printing very low buy interest and we dipped once again, however, if my EW counts are correct, we are due for a retest of the higher range bounds at 31K. 31K level was tested twice since we steeply dropped below the macro support at 27K a week ago, and this should be the third...

amourification

In spite of everything that has been happening, and the unfortunate fact than $LUNA is now officially a PENNY coin, I cannot unsee the divergences created on the lower timeframes. Is there still the slightest hope for a breather? Or the charts of $LUNA are not relevant any more?

amourification

From what I see, the price action dipped below the macro support region highlighted with the yellow box. However, this region was able to hold support and the price retracted upwards creating a nasty wick and currently trading at the support level of 27.7-28.5K. The created lower lows are so far met with a higher low on the RSI and MACD oscillators, which could...