Elliott wave Ripple analysis 12.1.2022

Corrective wave B, which is part of the potential A-B-C zigzag, has been completed. It consists of five main sub-waves [W]-[X]-[Y]-[X]-[Z]. Soon bearish wave C will unfold as an impulse [1]-[2]-[3]-[4]-[5]. The first two sub-waves [1]-[2] have already been formed. Wave [1] serves as the leading diagonal. The bears are trying to reach the level of 0.284. In the current situation, it is possible to consider entering short trades.

Trading plan for XRPUSD today:

Sell 0.400,

Take profit: 0.284

Myanfx-edu does not provide tax, investment or financial services and advice. The information is being presented without consideration of the investment objectives, risk tolerance, or financial circumstances of any specific investor and might not be suitable for all investors.

Go to Register with LiteForex Platform

Financial Trading is not suitable for all investors & involved Risky. If you through with this link and trade we may earn some commission

Want to Trade Online?

Easy Trading Platform

Copy Experienced Traders

Trade from Your Pocket

Trade with Liteforex

CFD Trading on financial markets carries risks. Before deciding to trade, you need to ensure that you understand the risks involved.