TradewithLu

RWE short update

Short
XETR:RWE   RWE AG INH O.N
This call has been made by looking at past examples of this exact pattern where wave 3 is close to 1.618 the length of wave 1 and wave 5 is also 1.618 times the length of wave 1. What I have found in the past is that the 5th wave ends very close to, if not exactly at the 2.618 extension of wave 1, taken from the end of wave 2 (in this case the 2.618 extension is at $24.53). Therefore I strongly think that price will reverse at this level. The only problem is that I don't yet see bearishly diverging rsi , but hopefully this will appear as the 5th wave of the 5th forms. This is not financial advice and I am not responsible for anyone's losses. (I have put down real money on this trade).