XRP/USD Q4-17 to Q1-18 Elliot/Pattern/Gann
Updated
XRP's downswing is coming to an end, forming what seems very familiar back in late April -0.33% -0.33% - early May 2017; the Symmetrical Triangle.
This chart follows 10-years-experience using Elliot Wave and Pattern Recognition Training to take a sneak peak to what is to come next. As Q4-17 comes to an end, news is also stacked and ready to be announced.
Before, getting into numbers, let's first talk about something interesting. What does technical analysis work in the first place? Crypto-currencies tend to follow similar trends, however Elliot and Patterned Triangles are imperative to understand and appreciate. It seems that Fundamental Analysis is the driving force to all movement. While yes this is true, companies and investors with deep pockets also understand the news only comes when it will be best received. Technical Analysis gives us some spot on points to where major news can be announced.
Now that is cleared-up, let's get into some nitty, gritty numbers.
Elliot Major 1 (40 cents) Signifies the end of Elliot Minor 5 wave completion. Fib Extension tool is set to 1.618 to where Elliot Major 3 (63 cents) will be placed as per Elliot Wave Theory indicates.
Elliot Correction Phase consists of multiple 12345 wave triangle formations that form into the larger ABDCE Elliot Triangle Corrections. Due to visibility, I omitted these smaller 12345 readings.
Fib Extension Tool placed on E and Elliot Major 3 provide us readings on where Elliot Major 3 can be formed.
Look left, structure leaves clues. Projected Elliot Major 4 may lie at 40 cents, near Elliot Major 1 reading.
Gann Fan placed alongside a 45 degree angle as per rule for Gann readings indicate the speed of which a trend moves and where it might gravitate toward. Gann Fan 4/1 became the year-long support, indicating strength and bullish movement. As the chart moves back toward the center of Gann Fan 1/1, speed increases. Gann states that the speed of movement increases as structure moves away and toward the 1/1 center 45 degree line.
This chart follows 10-years-experience using Elliot Wave and Pattern Recognition Training to take a sneak peak to what is to come next. As Q4-17 comes to an end, news is also stacked and ready to be announced.
Before, getting into numbers, let's first talk about something interesting. What does technical analysis work in the first place? Crypto-currencies tend to follow similar trends, however Elliot and Patterned Triangles are imperative to understand and appreciate. It seems that Fundamental Analysis is the driving force to all movement. While yes this is true, companies and investors with deep pockets also understand the news only comes when it will be best received. Technical Analysis gives us some spot on points to where major news can be announced.
Now that is cleared-up, let's get into some nitty, gritty numbers.
Elliot Major 1 (40 cents) Signifies the end of Elliot Minor 5 wave completion. Fib Extension tool is set to 1.618 to where Elliot Major 3 (63 cents) will be placed as per Elliot Wave Theory indicates.
Elliot Correction Phase consists of multiple 12345 wave triangle formations that form into the larger ABDCE Elliot Triangle Corrections. Due to visibility, I omitted these smaller 12345 readings.
Fib Extension Tool placed on E and Elliot Major 3 provide us readings on where Elliot Major 3 can be formed.
Look left, structure leaves clues. Projected Elliot Major 4 may lie at 40 cents, near Elliot Major 1 reading.
Gann Fan placed alongside a 45 degree angle as per rule for Gann readings indicate the speed of which a trend moves and where it might gravitate toward. Gann Fan 4/1 became the year-long support, indicating strength and bullish movement. As the chart moves back toward the center of Gann Fan 1/1, speed increases. Gann states that the speed of movement increases as structure moves away and toward the 1/1 center 45 degree line.
Note
ESCROW OFFICIALLY LOCKED IN!Trade active
Lol. Welp folks, beyond expectation, what can you expect.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.