Good evening from USA....What a day for all assets...I live close to Disney World and this is a wild ride.
Disclaimer-I own RIPPLE, TRON and BTC.
In all of my charts with exception of two so far, the assessments have been very good.
I am a fan of the turnaround! This is the big picture again with the Daily supported by looks at the 1,5,15,30,1,14,18, and 12.
There is a small pause right know on XRP but that is due to BTC hitting the 200day EMA as resistance. If BTC were to close above 8800, then game on. We are so close.
So here is the assessment on RIPPLE. I actively trade with the Bollinger B%, MACD, PSAR (CM_PSAR), Bollinger Band with Confirms on RSI, and Aroon. I also trade cypher patterns, butterflies, gartly and bat.
1) I called the Jhook Formation on the Bollinger B% as the early indicator for an uptick and trend change. That's Good
2) Price action caused the narrowing of the MACD to come close to crossover but stopped short of crossing. The pause is found on BTC stopping at 200 EMA resistance. This is almost good.
3) the PSAR is down and must clear when price is above 1 dollar.
3a) The BTC action cleared the PSAR and also Activated a potential signial for a low to 6000....That's information
4) While XRP moved away from the lower band it stopped short of the "Band" average (9dayEMA)-Needs Work but is moving along correctly.
Then I decided to review the trend from a backwards perspective for patterns and found an Elliot Wave Pattern. I
The pattern formation is almost text book. Especially, when a Fibonacci is added. In fact Wave 3-4 is textbook.
Now, if the pattern holds true, then there may be surprise to below point 3 or structural left
So now the question: Does XRP go up or down or sideways?
All of my trading indicators say up but the Elliot says I may have a surprise.
I think that BTC must close above the 8800 level to clear or kill the Elliot. I have experienced many trades like this scenario and then wondered why it went bonkers and it is because in nearly instance I overlooked the or missed the Wave Formations.
For HODL, the prospect is good that we are moving to a change.
I hope I am wrong so I am neutral. The other analysts are making very good points and I respect all of them.
Please take the time to share your thoughts and help me understand if missed anything. This look included a review of BTC action today too. I try to be holistic.
Also, constructive no's are good but please explain the rational
AS I write this comment, BTC is pushing up against 200ema for the seventh time.
Disclaimer-I own RIPPLE, TRON and BTC.
In all of my charts with exception of two so far, the assessments have been very good.
I am a fan of the turnaround! This is the big picture again with the Daily supported by looks at the 1,5,15,30,1,14,18, and 12.
There is a small pause right know on XRP but that is due to BTC hitting the 200day EMA as resistance. If BTC were to close above 8800, then game on. We are so close.
So here is the assessment on RIPPLE. I actively trade with the Bollinger B%, MACD, PSAR (CM_PSAR), Bollinger Band with Confirms on RSI, and Aroon. I also trade cypher patterns, butterflies, gartly and bat.
1) I called the Jhook Formation on the Bollinger B% as the early indicator for an uptick and trend change. That's Good
2) Price action caused the narrowing of the MACD to come close to crossover but stopped short of crossing. The pause is found on BTC stopping at 200 EMA resistance. This is almost good.
3) the PSAR is down and must clear when price is above 1 dollar.
3a) The BTC action cleared the PSAR and also Activated a potential signial for a low to 6000....That's information
4) While XRP moved away from the lower band it stopped short of the "Band" average (9dayEMA)-Needs Work but is moving along correctly.
Then I decided to review the trend from a backwards perspective for patterns and found an Elliot Wave Pattern. I
The pattern formation is almost text book. Especially, when a Fibonacci is added. In fact Wave 3-4 is textbook.
Now, if the pattern holds true, then there may be surprise to below point 3 or structural left
So now the question: Does XRP go up or down or sideways?
All of my trading indicators say up but the Elliot says I may have a surprise.
I think that BTC must close above the 8800 level to clear or kill the Elliot. I have experienced many trades like this scenario and then wondered why it went bonkers and it is because in nearly instance I overlooked the or missed the Wave Formations.
For HODL, the prospect is good that we are moving to a change.
I hope I am wrong so I am neutral. The other analysts are making very good points and I respect all of them.
Please take the time to share your thoughts and help me understand if missed anything. This look included a review of BTC action today too. I try to be holistic.
Also, constructive no's are good but please explain the rational
AS I write this comment, BTC is pushing up against 200ema for the seventh time.
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GO GO BTC
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all good Target Opposite Bollinger at 1.40
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Lesson Learned, this is the second time the J hook Bollinger formation has indicated a trade and uptick in two weeks. This tool that I learned from 35 year veteran is proving powerful.
The rule is this 1) must be below or above the limits 2) must form a letter J and not a V
That simple!
The rule is this 1) must be below or above the limits 2) must form a letter J and not a V
That simple!
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Best used on the Daily
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Good Mooooooooooooooooorning Ripple!!!! That was a powerful move! Preparing a new update!
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IN case I missed this drawing I declared the elliot wave broken.. my target is 1.40-1.60
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The Updated Drawing from a Daily perspective.
