Starting to build short while top is being formed. I anticipate 2 scenario's. (1) top is in and visible on 15min to form ABC lower. Therefore C wave is starting now so take position, but it could get higher to form a slightly higher top in hourly before correction starts. There the short position can be completed.
Commentaire:
The B wave seems to start to roll over after showing M pattern.
Commentaire:
I have to admit, I could have done better on this entry. Weaker GBP is stronger FTSE. Had to see that one coming i guess. Nevertheless, the B wave finalized 5 waves so I still remain bearish on this one. It could spike a bit further as GBP may weaken further. I stopped my short but looking for entry opportunities.