The last 72 hours of trading have just been crazy.
Until Friday, RUB had depreciated from 33 to 56 in a year.
From Friday it spiked up from 56 to 78 in 3 days.
My last post underestimated the potential spike while assuming it was final wave 5 (and could have had a relation with the previous move up.
There is a more extreme reading where wave 1 only started monday.... In which case wave 5 would still be missing.
if wave 5 = wave 3, target is 84.
If wave 5 = 161.8 x wave 3, target is 96
This is crazy. It can be traded though:
1 - by reducing sizes to very small (i.e 3/5% max in a real pro portfolio)
2 - by waiting for local extremes
I suggested to short 69 which makes money now after going to 77 (note my stop are always on close unless otherwise specified)
Take profit here...
NEXT trade:
short 2% at 84
short 3% at 96
if i miss c'est la vie, this currency was never on my radar... so only looking at trades that should make money or provide an exit opportunity on any retracement....
Extremes are probably in the 80/120 area. Not sure though as tangible metrics are broken beyond a certain point.