Alt count also suggests a downward long term move.
Been a year of rebounding and sidelined waiting. Now Main count wave 5 (blue) has just started with sub wave I and a retrace of 38.2% for wave II. (Look at a smaller time frame will clearly show that sub move better.) Long term target is 1 year out. R.R. at this location very good with a stop above the current swing high on weekly candlesticks. Brexit opportunity to catch the super trend 'neckline' SQUATCH shown in black dots.
Bearish weekly candlesticks give a hint. Short. Keep stop rules above swing high and be happy to lose a tiny bit. if it goes up to 50% retrace just wait for another signal to short. At some point you will catch this massive downward trend and profit many times more than your stop loss. Good Luck
Been a year of rebounding and sidelined waiting. Now Main count wave 5 (blue) has just started with sub wave I and a retrace of 38.2% for wave II. (Look at a smaller time frame will clearly show that sub move better.) Long term target is 1 year out. R.R. at this location very good with a stop above the current swing high on weekly candlesticks. Brexit opportunity to catch the super trend 'neckline' SQUATCH shown in black dots.
Bearish weekly candlesticks give a hint. Short. Keep stop rules above swing high and be happy to lose a tiny bit. if it goes up to 50% retrace just wait for another signal to short. At some point you will catch this massive downward trend and profit many times more than your stop loss. Good Luck