Hi, Traders !
Monfex is on the air !
This time we are going to analyze Ripple from the perspective of market cycles, backed up by Fibonacci & Gann's tools.
* From the chart you can see that the complete down move from the top at $0.5175 to the bottom at $0.2150 took about 95 days (22Jun-24Sep), which is called the Intermediate cycle.
* At the same time, the Intermediate cycle contained smaller (minor) cycles inside of it:
- first decline from $0.5175 to $0.2369 (22Jun-14Aug) that last around 54 days;
- upward correction from $0.2369 to $0.3270 (14Aug-18Sep) that last 36 days;
- both minor cycles have the common denominator of 18, dividing by which we arrive at the number of cycle periods;
- micro cycle - 6 days down (18Sep-24Sep) from $0.3270 to $0.2150.
* Thus, the Intermediate cycle consisted of 3 and 1/3 of declining periods and 2 upward periods.
* According to the Fibonacci rule, the next Intermediate cycle should be approx. 61.8% longer than the previous cycle.
* Thus, if we deem 24Sep as the bottom of the accomplished Intermediate cycle and suppose that the new cycle has begun, the ending date of the new Intermediate cycle could be forecast at roughly 19Jan2020.
Fibonacci correction (retracement) levels
* Fibonacci correction levels should be used as the upside targets (and the levels of support after) for minor upward cycles, since we generally suppose that the new Intermediate cycle is an upward cycle.
* After we see the first tops and bottoms inside the new cycle, we can determine the common denominator for the calculation of the number of periods of minor cycles.
* After we get this figure, we will be able to forecast the lengths and the altitudes of the remaining minor cycles inside the new Intermediate cycle.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
Monfex is on the air !
This time we are going to analyze Ripple from the perspective of market cycles, backed up by Fibonacci & Gann's tools.
* From the chart you can see that the complete down move from the top at $0.5175 to the bottom at $0.2150 took about 95 days (22Jun-24Sep), which is called the Intermediate cycle.
* At the same time, the Intermediate cycle contained smaller (minor) cycles inside of it:
- first decline from $0.5175 to $0.2369 (22Jun-14Aug) that last around 54 days;
- upward correction from $0.2369 to $0.3270 (14Aug-18Sep) that last 36 days;
- both minor cycles have the common denominator of 18, dividing by which we arrive at the number of cycle periods;
- micro cycle - 6 days down (18Sep-24Sep) from $0.3270 to $0.2150.
* Thus, the Intermediate cycle consisted of 3 and 1/3 of declining periods and 2 upward periods.
* According to the Fibonacci rule, the next Intermediate cycle should be approx. 61.8% longer than the previous cycle.
* Thus, if we deem 24Sep as the bottom of the accomplished Intermediate cycle and suppose that the new cycle has begun, the ending date of the new Intermediate cycle could be forecast at roughly 19Jan2020.
Fibonacci correction (retracement) levels
* Fibonacci correction levels should be used as the upside targets (and the levels of support after) for minor upward cycles, since we generally suppose that the new Intermediate cycle is an upward cycle.
* After we see the first tops and bottoms inside the new cycle, we can determine the common denominator for the calculation of the number of periods of minor cycles.
* After we get this figure, we will be able to forecast the lengths and the altitudes of the remaining minor cycles inside the new Intermediate cycle.
Watch for our Updates to get real-time superior signals!
GOOD LUCK AND LOTS OF PROFITS !!
If you agree with this analysis, then Like it and visit my page! This will be the best feedback and encouragement for me!
Disclaimer
This report is for information purposes only and should not be considered a solicitation to buy or sell any cryptocurrency or cryptocurrency product. Monfex accepts no responsibility for any consequences resulting from the use of this material. Any person acting on this trade idea does so entirely at their own risk.
