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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Alternate count with the short still in play with a triangle wave 4 before the big drop.
Ta
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Nice little impulse and is looking very complete. I'm watching out short entries now