TradewithLu

RWE short update

Short
XETR:RWE   RWE AG
This call has been made by looking at past examples of this exact pattern where wave 3 is close to 1.618 the length of wave 1 and wave 5 is also 1.618 times the length of wave 1. What I have found in the past is that the 5th wave ends very close to, if not exactly at the 2.618 extension of wave 1, taken from the end of wave 2 (in this case the 2.618 extension is at $24.53). Therefore I strongly think that price will reverse at this level. The only problem is that I don't yet see bearishly diverging rsi, but hopefully this will appear as the 5th wave of the 5th forms. This is not financial advice and I am not responsible for anyone's losses. (I have put down real money on this trade).

Clause de non-responsabilité

Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.