Ripple Coming in for a Landing
If you saw my last chart, and you took that trade, good job!! We made 9% profit on that trade. Playing the breakout of the triangle was a great Risk:Reward setup. and we hit my target PERFECTLY before coming in for a retracement.
I had to change up my count a little bit. It seems that the ABCDE we broke out was a correction, but it was actually the Wave 4 Correction of wave 5, and now we are in our major Wave correction and still on target to correct to between the 0.5 and 0.618 Fibonacci Ranges. We already bounced off of the 0.382 Fibb for our Wave A, and then corrected up for B and continuing down for Wave C to complete our Major Wave 2.
So I was right so far in that Ripple had to correct more, what I was wrong in was that it hadn't quite been time to correct yet.
Target For Bottom of C/2 between $0.635 and $0.71
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
Previous XRP Counts For reference
steemit-production-imageproxy-thumbnail.s3.amazonaws.com/DQmTFprKDo3vC58YoDooGX65J8xBcRk1hscFvHftJ6EVaC1_1680x8400
steemitimages.com/0x0/https://steemitimages.com/DQmUVbLDryxNBadGLGqrRej4UyU68DpNjza4SdtV69Gd6HZ/image.png
I had to change up my count a little bit. It seems that the ABCDE we broke out was a correction, but it was actually the Wave 4 Correction of wave 5, and now we are in our major Wave correction and still on target to correct to between the 0.5 and 0.618 Fibonacci Ranges. We already bounced off of the 0.382 Fibb for our Wave A, and then corrected up for B and continuing down for Wave C to complete our Major Wave 2.
So I was right so far in that Ripple had to correct more, what I was wrong in was that it hadn't quite been time to correct yet.
Target For Bottom of C/2 between $0.635 and $0.71
I hope that you enjoyed my analysis. Please always remember that targets are not set in stone and to always practice proper risk management! Please like and comment any questions you may have below. Happy trading!!
Previous XRP Counts For reference
steemit-production-imageproxy-thumbnail.s3.amazonaws.com/DQmTFprKDo3vC58YoDooGX65J8xBcRk1hscFvHftJ6EVaC1_1680x8400
steemitimages.com/0x0/https://steemitimages.com/DQmUVbLDryxNBadGLGqrRej4UyU68DpNjza4SdtV69Gd6HZ/image.png
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