I will upload another picture for a short term entry to catch this sub-wave 5. I think the channel is so nice that we can put a timeline with our targets (This will probably end up failing like always haha)
Target 1: $1.84 3 Days
Target 2: $2.48 2 Weeks
Entry: $1.40 - $1.47
Stop Loss: 1.28
Chance to Gain: 31.39%
Chance to Lose: 8.26%
It's going up right now, so there is a chance it hits the target before retracing to this entry level. We will wait and see what happens and possibly change the analysis for new entry.
Ripple said F your channel, I want the Jaws of Wealth!!
Targets 1 and 2 were both hit without consideration of my feelings.
Target 3 is $3.91
Target 4 is $4.61
Target 4 may never be reached.
Entry is the yellow line.
Correction should take about 1 week.
It is possible that this is not the end of our wave 3.
If these are impulse waves, this is what I have for Ripple. If lines are broken, then it will fail and we will go lower.
$4.14 is definitely still a target here. Ripple is making a LOT of progress. It's broken resistance before, so I can't deny that it wont happen again, we're already on pace for it. Targets 1 and 2 are for this very small subwave 5 that we have developing here. And we should retrace about 32.8% of this run as the next best re-entry.
If wave 3 reaches target 2 (possible), then we're looking to get as high as $4.99 with the 1 penny discount. It's looking very promising.
My man Leonardo Fibonacci and Sir Ralph Elliot are GENIUS!! Another PERFECT HIT. Now, before I get too excited. This wave can still go higher and will look for that. BUT if this is it, then here is the next best entry. You DONT want to miss wave 3.
WARNING, now we are starting to play with fire. Ripple IS EXTREMELY overbought on the daily chart, when this thing corrects, it will CORRECT HARD.
Like I said, we're playing with fire. These small runs do not retrace for a long time, on every single run that we have. That's why this correction targets are so hard. But it's looking very similar to wave 3, just with a little more red. We can DEFINITELY still around $3.40, but it's not worth keeping this trade open. No matter where we go, I see it likely to retrace to around the area of where (white) wave 4 is. No more updates on this. Trade closed.