Elliott Wave Analysis TradingLounge

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave ((C))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid level:

Details: Wave II is likely to be completed and the price will likely rise in wave III.

XRP/ U.S. dollar(XRPUSD)Trading Strategy:

The correction in wave II seems to be over so we focus on the five-wave rally of wave III and The price action remains in an uptrend, and we are looking for a re-entry into the trend.

XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Flat

Position: Wave ((C))

Direction Next higher Degrees: wave II of Impulse

Wave Cancel invalid level:

Details: Wave II is likely to be completed and the price will likely rise in wave III.

XRP/ U.S. dollar(XRPUSD)Trading Strategy:

The correction in wave II seems to be over so we focus on the five-wave rally of wave III and The price action remains in an uptrend, and we are looking for a re-entry into the trend.

XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is below the MA200 indicating a downtrend, The Wave Oscillator is a Bearish Momentum.

Technical Analyst: Kittiampon Somboonsod

More By This Author:

Unlocking ASX Trading Success: ResMed Inc.
Elliott Wave Technical Analysis: Adani Enterprises Ltd.
Elliott Wave Technical Analysis: Mastercard Inc.