Elliott Wave Analysis TradingLounge.
XRP/USD (XRPUSD).
XRP/USD Elliott Wave Technical Analysis
Function: Counter trend.
Mode: Fixed.
Structure: double orthodontic.
Position: Wave ((Y)).
Next highest degree direction: Impulse wave II.
Wave cancellation invalidity level:
Details: The second wave is likely to be completed, and the third wave could lead to higher prices.
XRP/USD (XRPUSD) trading strategy:
Since the second wave correction appears to be over, we will focus on the wave 5 rise of the third wave. The price action is still in an uptrend and is looking for a re-entry into the trend.
XRP/USD (XRPUSD) technical indicators: Price is below MA200, indicating a downtrend. The wave oscillator has bearish momentum.
XRP/USD (XRPUSD).
XRP/USD Elliott Wave Technical Analysis
Function: Counter trend.
Mode: Fixed.
Structure: double orthodontic.
Position: Wave ((Y)).
Next highest degree direction: Impulse wave II.
Wave cancellation invalidity level:
Details: The second wave is likely to be completed, and the third wave could lead to higher prices.
XRP/USD (XRPUSD) trading strategy:
Since the second wave correction appears to be over, we will focus on the wave 5 rally of the third wave. The price action is still in an uptrend and is looking for a re-entry into the trend.
XRP/USD (XRPUSD) technical indicators: Price is below MA200, indicating a downtrend. The wave oscillator has bearish momentum.
Technical Analyst: Mr. Kitianpong Somboonsod.
