Elliott wave Ripple analysis 05.09.2022

The XRPUSD market continues forming the motive wave W as a triple zigzag [W]-[X]-[Y]-[X]-[Z]. The linking wave [X] could be unfolding as a double zigzag (W)-(X)-(Y), with the final motive wave (Y) developing inside. The (Y) wave could be a simple zigzag A-B-C, which should end at a level of 0.307, where wave (Y) will reach the Fibonacci extension of 161.8% of wave (W). Therefore, one could enter sell trades.

Trading plan for XRPUSD today:

Sell 0.328,

Take profit: 0.307.

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