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
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.