XRPUSD In Elliott Wave Theory, wave three is usually the largest and most powerful wave in a trend (although some research suggests that in commodity markets, wave five is the largest). The news is now positive and fundamental analysts start to raise earnings estimates. Prices rise quickly, corrections are short-lived and shallow. Anyone looking to “get in on a pullback” will likely miss the boat. As wave three starts, the news is probably still bearish, and most market players remain negative; but by wave three’s midpoint, “the crowd” will often join the new bullish trend. Wave three often extends wave one by a ratio of 1.618:1 Wave 3 rally picks up steam and takes the top of Wave 1. As soon as the Wave 1 high is exceeded, the stops are taken out. Depending on the number of stops, gaps are left open. Gaps are a good indication of a Wave 3 in progress. After taking the stops out, the Wave 3 rally has caught the attention of traders
XRPUSD if you paid attention to my post yesterday about wave 1 in elliot wave theory then you can see my suspicion is playing out to be true.....if the entire world is telling you to look left, you should probably look to the right....
XRPUSD Just for fun! Hope you are all well and enjoying holidays, My expert TA (LOL) is Its spent 4 days in ranging city for Christmas on its holidays guys, Probably won't move a lot so set alerts and pre orders just in case that sneaky move comes..... and don't send yourself crazy watching it move 2c that way and 2c this way all day.
Happy weekend all, praying it pops soon like it did 3-4 Sundays ago! :)
XRPUSD In Elliott Wave Theory, wave one is rarely obvious at its inception. When the first wave of a new bull market begins, the fundamental news is almost universally negative. The previous trend is considered still strongly in force. Fundamental analysts continue to revise their earnings estimates lower; the economy probably does not look strong. Sentiment surveys are decidedly bearish, put options are in vogue, and implied volatility in the options market is high. Volume might increase a bit as prices rise, but not by enough to alert many technical analysts....just something to think about.
XRPUSD Paul Barron reported Japan is about to go all in on XRP in anticipation of it wrapping up its SEC suit and hinting it there might bean IPO soon. i'm getting intrigued