Hi all,
After an XRP/USD weekend, time to hunt for a new set-up.
Ethereum has made uptrend waves and retracement as well.
In my opinion we are now in the ABC correction and retracing down to have another leg up after completing the correction.
According to Elliot Wave , wave 4 may never retrace more then the top of wave 1.
With this information we have a clear indication where we need to place our stoploss.
In the chart the subwaves are visible but also the primary waves.
The subwaves are coloured in light blue, the primary in white.
The red line show the top of wave 1, if we cross that the count is invalid and so is the set-up.
For now, below a suggestion what possibly can be a good and definitely good profits if this works out.
As you can see, my stoploss is lower then the red line for a reason.
I simply do not want to get stopped by 1 wig hitting below the level.
Entry: 230 USD
Stoploss: 226 USD
Target: 285 USD
Happy trading.
After an XRP/USD weekend, time to hunt for a new set-up.
Ethereum has made uptrend waves and retracement as well.
In my opinion we are now in the ABC correction and retracing down to have another leg up after completing the correction.
According to Elliot Wave , wave 4 may never retrace more then the top of wave 1.
With this information we have a clear indication where we need to place our stoploss.
In the chart the subwaves are visible but also the primary waves.
The subwaves are coloured in light blue, the primary in white.
The red line show the top of wave 1, if we cross that the count is invalid and so is the set-up.
For now, below a suggestion what possibly can be a good and definitely good profits if this works out.
As you can see, my stoploss is lower then the red line for a reason.
I simply do not want to get stopped by 1 wig hitting below the level.
Entry: 230 USD
Stoploss: 226 USD
Target: 285 USD
Happy trading.