According to the school of technical analysis, “The basic concept of underlying harmonic patterns is based on price/time movements that follow the symmetry of the Fibonacci ratio and its correlations in markets.”
The issue with Harmonic Patterns is that harmonic pricing patterns need to exhibit movements of a specific size in order to indicate an accurate reversal point when the pattern expands.
Therefore, looking at
XRP it demonstrates a pure Harmonic movement working a long-term ascending channel.
On a weekly Oscillators standpoint, the indication is by far clearer to reality:
- Momentum (10) 0.12776 = Buy
- MACD Level (12, 26) 0.03080 = Buy
- Exponential Moving Average (20) 0.58496 = Buy
- Simple Moving Average (20) 0.56844 = Buy
- Exponential Moving Average (30) 0.56559 = Buy
- Simple Moving Average (30) 0.57230 = Buy
- Exponential Moving Average (50) 0.54378 = Buy
- Simple Moving Average (50) 0.51553 = Buy
- Exponential Moving Average (100) 0.53909 = Buy
- Exponential Moving Average (200) 0.51817 = Buy
- Simple Moving Average (200) 0.54754 = Buy
The issue with Harmonic Patterns is that harmonic pricing patterns need to exhibit movements of a specific size in order to indicate an accurate reversal point when the pattern expands.
Therefore, looking at
XRP it demonstrates a pure Harmonic movement working a long-term ascending channel. On a weekly Oscillators standpoint, the indication is by far clearer to reality:
- Momentum (10) 0.12776 = Buy
- MACD Level (12, 26) 0.03080 = Buy
- Exponential Moving Average (20) 0.58496 = Buy
- Simple Moving Average (20) 0.56844 = Buy
- Exponential Moving Average (30) 0.56559 = Buy
- Simple Moving Average (30) 0.57230 = Buy
- Exponential Moving Average (50) 0.54378 = Buy
- Simple Moving Average (50) 0.51553 = Buy
- Exponential Moving Average (100) 0.53909 = Buy
- Exponential Moving Average (200) 0.51817 = Buy
- Simple Moving Average (200) 0.54754 = Buy
Trade active
trade is going as planned. Keep your eyes on XRPTrade active
Sling-Shot Effect Upwards
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.