Can Ripple Keep Ripping. Pt. II

In the Prequel to this post I stated what I wanted to see for Ripple to continue in an impulsive fashion. For that to play out, I needed Ripple to hold 44 cents, and it did not. I had given it some grace in my own trading as it hit and bounced off 43 cents. RN Elliott Simply didn't want to see wave 4 cross wave 1. That cross has not happened. However, the work of Avi Gilburt and the team on Elliott Wave trader suggests that, wave 4 should not retrace ore than 50% of three in log, and that is where 44 cents came from. Since we broke down again after the 43 cents low, I have to hold Ripple as non-impulsive, and this means that the bottom may not be in, ultimately. I now count this rally as a B wave, and generally the C wave goes lower than the end of A. For now, I do believe we'll see a 'circle-c of B' start before too long, though we may see lower first. If we break the low labeled circle-B, this opens the door to the C wave already being in progress, and as if so, this the scenario marked with the red circle-b, and the red C in this situation projects to 4 cents. So, this coin is now very precarious on a weekly basis. But risk to reward for a swing trade with a stop below circle B is pretty good.

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