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Ripple/U.S.dollar(XRPUSD) Elliott Wave Technical Analysis 5 June 23


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Elliott Wave Analysis TradingLounge Daily Chart, 5 June 23,  

Ripple/U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: wave 1 of Motive

Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1

Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. As an increase in wave 3 is usually equal to 1.618 multiplied Length of wave 1. Once wave 3 completes, there is a short retracement in wave 4 before rising again in wave 5. Watch out for a retracement in wave 4.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum.

TradingLounge Analyst: Kittiampon Somboonsod, CEWA

 

XRPday.thumb.png.a60f77191e0b1918e446646134490436.png

 

 

Elliott Wave Analysis TradingLounge 4H Chart, 5 June 23,  

Ripple/U.S.dollar(XRPUSD)

XRPUSD Elliott Wave Technical Analysis 

Function: Follow Trend

Mode: Motive

Structure: Impulse

Position: Wave ((3))

Direction Next higher Degrees: wave 1 of Motive

Details: Wave 3 is usually equal to 1.618 multiplied Length of wave 1

Wave Cancel invalid level: 0.41001

Ripple/U.S.dollar(XRPUSD)Trading Strategy: Ripple is still in an uptrend. As an increase in wave 3 is usually equal to 1.618 multiplied Length of wave 1. Once wave 3 completes, there is a short retracement in wave 4 before rising again in wave 5. Watch out for a retracement in wave 4.

Ripple/U.S.dollar(XRPUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend MACD and RSI are bullish momentum.

XRPH4.thumb.png.b8d16187b52ecba52d28494d8ee28db9.png

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