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Elliott Wave Analysis TradingLounge Daily Chart

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave E

Direction Next higher Degrees: wave 4 of Impulse

Wave Cancel invalid level: 0.486

Details: Movement within the triangle pattern before the price Declines again. in Wave 5.

Ripple/ U.S. dollar(XRPUSD)Trading Strategy:
Decreasing wave ((E)), which is the last wave in the triangle pattern. The trend has ended and the price is returning to the uptrend again. So look for opportunities to join the uptrend.

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

Elliott Wave Analysis TradingLounge H4 Chart

XRP/ U.S. dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Counter Trend

Mode: Corrective

Structure: Triangle

Position: Wave E

Direction Next higher Degrees: wave 4 of Impulse

Wave Cancel invalid level: 0.486

Details: Movement within the triangle pattern before the price Declines again. in Wave 5.

Ripple/ U.S. dollar(XRPUSD)Trading Strategy:
Decreasing wave ((E)), which is the last wave in the triangle pattern. The trend has ended and the price is returning to the uptrend again. So look for opportunities to join the uptrend.

Ripple/ 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

Source: Tradinglounge.com

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