The Looney being annoying! But a big short in sight!
Hi All,
The Looney is really being a Looney over the last couple as it is massively rallying despite massive MASSIVE divergencies. I have this count as follows.
Wave 1: Standard impulse
Wave 2: ZZ retraced 61.8%
Wave 3: Extended to 2.618%
Wave 4: Flat retraced 23.6%
wave 5: Looney high marked with the blue line.
As you can see, there are 5 key high's that kept pushing this pair higher despite being over bought as this pair is at the top so a short is predicted. With keeping an eye on this as it will make some massive moves to the downside.
Happy Trading
The Looney is really being a Looney over the last couple as it is massively rallying despite massive MASSIVE divergencies. I have this count as follows.
Wave 1: Standard impulse
Wave 2: ZZ retraced 61.8%
Wave 3: Extended to 2.618%
Wave 4: Flat retraced 23.6%
wave 5: Looney high marked with the blue line.
As you can see, there are 5 key high's that kept pushing this pair higher despite being over bought as this pair is at the top so a short is predicted. With keeping an eye on this as it will make some massive moves to the downside.
Happy Trading
Comment:
Nice little impulse and is looking very complete. I'm watching out short entries now
Ta