It looks like a second wave of Zigzag consolidation before the price increases again in the third wave. The overall picture is a correction before another increase. Look for an opportunity to join the uptrend from a short-term correction within the second wave.XRP/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.
Elliott Wave Analysis TradingLounge H4 ChartXRP/ U.S. dollar(XRPUSD)XRPUSD Elliott Wave Technical Analysis Function: Follow TrendMode: MotiveStructure: ImpulsePosition: Wave ((1))Direction Next higher Degrees: wave I of ImpulseWave Cancel invalid level: Details: The rally in Wave 1 is likely to end, watch out for a correction in Wave 2.XRP/ U.S. dollar(XRPUSD)Trading Strategy:
It looks like a second wave of Zigzag consolidation before the price increases again in the third wave. The overall picture is a correction before another increase. Look for an opportunity to join the uptrend from a short-term correction within the second wave.XRP/ U.S. dollar(XRPUSD)Technical Indicators:
The price is below the MA200 indicating a Downtrend. The Wave Oscillator is a Bearish Momentum.Technical Analyst: Kittiampon SomboonsodSource: Tradinglounge.com
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