Gday fam.

Today is Moonday November 01/11/21. IF we want to finish that Expanding Diagonal by November 4th we better hurry up!!

Anyways, this is just a quick update... I wanted to let you know that I slightly updated the big picture chart. I did not like the fact that we had 2 triangles in the "X" position in the count, that is a lack of alternation, and likely incorrect.

So I investigated that the August rally can work as an impulse. I came to the conclusion that it could work, so that is the change : the recent triangle becomes a "b"-triangle :

So all we need is a c-thrust out of that b-triangle to complete the diagonal, it must make a higher high though. At that point the diagonal will be complete.... XRP bull run started 589 days ago on March 22, 2020. If you were following me at that time you might remember that the actual price low was on March 16th. However there was a truncated low, and we started the upward count a few days later...

While I'm here, let me take a look at the recent price action, so far it behaved as expected.... Rejection for (d) and now in (e) wave of the triangle.

So where is (e) going to end? Most of the time a triangle wave retraces between 61.8% and 78,6% of the previous wave, so that gives me a target range of 1,01-1,04. It cannot go below the (c) low, at least not on an exchange neutral chart.  It may go lower on some exchanges though because it is expected that they will try to make a run for stops and/or liquidate the leveraged traders. It is also possible that (e) will form a triangle on it's own, in that case it might not go that low. 

Okay, that's all for now folks.... Enjoy the show! 321!