XRP weekly chart. So what's bullish?
Reversal diamond
Candle closed above 100 week MA.
Ascending triangle forming abcde pattern to break through historical 31 cent resistance.
Heavy volume below reversal diamond confirms reversal.
Not on chart, but busted through 200 day MA
About Elliot wave on my chart:
In 2017, there is a clear 1-5 pump to wave 1 to this same exact level.
The current chart, if I were to count the waves from the 11 cent low, my waves 1 and 2 would really be 3 and 4.
So what's going on? (1) XRP pumping differently than 2017. (2) Start wave 1 count from the exit of the descending triangle .
I chose to count wave 1 starting from the exit of the reversal triangle. That might not be correct. I don't know.
I did this to match Elliot wave counts at the same level with the 2017 fractal .
Comments from Elliot wave gurus would be welcome on this nuance.
Reversal diamond
Candle closed above 100 week MA.
Ascending triangle forming abcde pattern to break through historical 31 cent resistance.
Heavy volume below reversal diamond confirms reversal.
Not on chart, but busted through 200 day MA
About Elliot wave on my chart:
In 2017, there is a clear 1-5 pump to wave 1 to this same exact level.
The current chart, if I were to count the waves from the 11 cent low, my waves 1 and 2 would really be 3 and 4.
So what's going on? (1) XRP pumping differently than 2017. (2) Start wave 1 count from the exit of the descending triangle .
I chose to count wave 1 starting from the exit of the reversal triangle. That might not be correct. I don't know.
I did this to match Elliot wave counts at the same level with the 2017 fractal .
Comments from Elliot wave gurus would be welcome on this nuance.
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免責聲明
這些資訊和出版物並不意味著也不構成TradingView提供或認可的金融、投資、交易或其他類型的意見或建議。請在使用條款閱讀更多資訊。