rottnpicks

rottnpicks

An opportunity for a low risk short at the 5.1 extension... There is a valid 5 wave structure. Into the shorting zone, there is a gap below to be filled. We are still above the daily MA's but again low risk if you set your stop loss correctly!!! Good luck.

rottnpicks

We have a valid 5 wave count and have hit the 5.1 fib extension, still above the daily MA's, however this is an excellent opportunity to try the short... Don't forget to set your stop loss on this!!!

rottnpicks Updated 

If you are a technical wave or Fibonacci trader. you would understand the extension levels. wave 1/2 are obvious here in yellow, but as you can see our extension tool has taken us to the 4.236 extension level/ based on the wave 1/2 this is considered over extended and a hard fall to the .786 retracement is likely... Moderator learn your extension levels.

rottnpicks

this structure from a technical point of view is massively over extended meaning a hard fall to the 786 or lower fibonnaci.