Image Source: UpsplashElliott Wave Analysis TradingLounge Daily Chart, 29 November 23,XRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: TrianglePosition: Wave ((E))Direction Next higher Degrees: wave 4 of ImpulseWave Cancel invalid level:Details: The movement within a triangle patternXRP/ U.S. dollar(XRPUSD)Trading Strategy: Zigzag pattern correction, we have Wave A completed and prices developing in Wave B before entering a downside move in Wave C, which is likely to test the 0.42987 level.XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum.TradingLounge Analyst: Kittiampon Somboonsod, CEWASource : TradingLounge.com
Elliott Wave Analysis TradingLounge 4H Chart, 29 November 23,XRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical AnalysisFunction: Counter TrendMode: CorrectiveStructure: ZigzagPosition: Wave CDirection Next higher Degrees: wave (Z) of triple CorrectiveWave Cancel invalid level: 0.52954Details: the five-wave decline in Wave cXRP/ U.S. dollar(XRPUSD)Trading Strategy: Zigzag pattern correction, we have Wave A completed and prices developing in Wave B before entering a downside move in Wave C, which is likely to test the 0.42987 level.XRP/ U.S. dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an uptrend, Wave Oscillators a Bearish Momentum.
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