Current EWT Wave Count - Ripple XRPUSD - 4 HR - Big Move Coming
It appears XRP/USD has completed a correction W2 (white) that ended on January 13th, completing a complex WXYXZ correction lasting since January 24th, 2018.
To confirm the end of corrective W2 (white) is wave (Z) ending as a .618 proportion of wave (W). This also coincides with W2 retracing within a few points of the .786 of W1.
Time cycles place the likelihood of wave (3) of W3 beginning on or around January 19th. If this count is correct, we should see the beginning of the bull run as a 3 of 3; generally giving you the fastest and highest gains.
I am entering at current levels with generous stops below the beginning of W1 at $.2750. A breach of this level would negate this wave count entirely.
I will take profit on 1/4th of the position at $.4975 and trail stops up to $.33 which is just below the ending of wave (1) of W3. The remainder of the position will be held indefinitely as it appears a bottom is in place and there is nowhere to go but up. I'll trail my stops respective to EWT rules and pay close attention to if this wave count holds up.
I am not an investment advisor and am not recommending you buy or sell. I enjoy predicting market behaviour and, most of all, learning new trading techniques. Please feel free to politely offer suggestions or critiques of my EWT analysis.
To confirm the end of corrective W2 (white) is wave (Z) ending as a .618 proportion of wave (W). This also coincides with W2 retracing within a few points of the .786 of W1.
Time cycles place the likelihood of wave (3) of W3 beginning on or around January 19th. If this count is correct, we should see the beginning of the bull run as a 3 of 3; generally giving you the fastest and highest gains.
I am entering at current levels with generous stops below the beginning of W1 at $.2750. A breach of this level would negate this wave count entirely.
I will take profit on 1/4th of the position at $.4975 and trail stops up to $.33 which is just below the ending of wave (1) of W3. The remainder of the position will be held indefinitely as it appears a bottom is in place and there is nowhere to go but up. I'll trail my stops respective to EWT rules and pay close attention to if this wave count holds up.
I am not an investment advisor and am not recommending you buy or sell. I enjoy predicting market behaviour and, most of all, learning new trading techniques. Please feel free to politely offer suggestions or critiques of my EWT analysis.
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*Correction* First paragraph: "January 24th, 2018" is supposed to be "December 24th, 2018"