XVG Verge Technical Analysis - Are we ready for an impulsive Wave 3?
What's up everybody, here is a possible scenario for XVG Verge.
I'm only applying technical analysis by using Elliot Wave principles and Fibonacci tools.
What we can see above is an impulsive wave structure and a correction that falls between the 36.6% and the 50% (marked with a box).
So far, the chart is playing nicely with my projection. Once we can identify an impulsive wave structure going upwards, we may be going up for a longer wave 3. See below.
Wave 3s can't ever be the shortest wave in an impulsive 5 wave structure and are often the longest wave. Below we can see the minimum target area we can expect to reach through an impulsive wave of a lesser degree. Let's keep an eye out for this possibility; this can mean huge gains for XVG Verge. Again, the key right now is to start seeing an impulse so we can be sure the correction has completed.
This isn't financial advice. This is my current interpretation of the charts.
I am very curious w what is going to happen to XVG. I do own some since I believe in the filosofy and the technique.
Just checked right now and if I zoom-in to the 5 minute level, a 5 wave is in place to initiate a potential larger impulsive 1 wave. We'll have to wait and see how it corrects to see if it's in play for a large wave 3.