I would like show you a method to identify a tendency according to time periods. My objective is to determine when XRP will start/stop to correct or break out.
On the daily chart
, my method consists of
1) using Fibonacci numbers as follow:
a. 0, 1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, 987, 1597
b. drawing time periods from Fibonacci Sequences
2) determining how the price is moving
a. Bull, Consolidation and Bear Market
b. price contraction, extension, consolidation, contraction, explosion
c. putting a time sequence according to price action
3) putting codes
a. red for Bear Market
b. orange for consolidation
c. green for Bull Market
d. purple for one sequence of 233 days
NB: Each bar represents one day
Since 2017, XRP is sequenced in 233 days namely A, B, C â€“ each sequence is calculated from the last high to the next high of the sequence
For the sequence C it is not a high but a low as we are ending the second super cycle wave correction please, have a look at my count wave analysis here:
Let me make things clear, my method is not used to identify a break out â€“ but a sequence or the end of a cycle. In other words, at the end of a bearish
cycle, the price can either move aside into a consolidated shape or up â€“ but it cannot continue bearish
, otherwise my cycle count is invalid.
Thus, from Elliott Waves
, I am able to Identify where the price is moving to and from my Cycle Count, I know when it will happen.
The current cycle will end the 25th of August 2018.
I will provide more details the next days, please like; share and comment.
Ma maÃ®trise est sans faille et mon skill sans Ã©gal.