Elliott Wave analysis for Ripple 15.08.2022

We can see the first actionary wave W of a projected double zigzag forming. The wave W looks like a triple zigzag [W]-[X]-[Y]-[X]-[Z], which requires sub-wave [Z] to be complete. This sub-wave can form its pattern — zigzag (A)-(B)-(C) — at around 0.464, where sub-waves [Y] and [Z] will be equal. The nearest buying target is the previous high of 0.408 formed by the sub-wave [Y]. The first impulse sub-wave (A) is expected to form at that level.

Trading plan for XRPUSD for today:

Buy 0.379,

Take profit: 0.408.






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