Elliott wave Ripple analysis

17 Des 2021

The XRPUSD market is forming the (Y) wave as an element of a larger corrective pattern. Wave (Y) is unfolding as a simple zigzag A-B-C. Impulse A has completed, and the B correction is currently unfolding as a double zigzag [W]-[X]-[Y]. The first two legs, sub-waves [W] and [X], must have completed. The final motive wave [Y] should also be developing as a double combination (W)-(X)-(Y), with the upward wave (Y) unfolding inside. Wave (Y) could end at a level of 0.966, where correction B will be 50% of the A impulse.

Trading plan for XRPUSD today:
Buy 0.812, TP 0.966