If you fancy EW you must realize that one of the hallmarks of wave C or 3 is its tendency to become record overbought/sold and stay there. Wave 5 creates a divergence in the technical indicator.
So if your indicators are screaming buy/sell you must ask yourself if that is because we are in a wave 3 or a wave C, in which case the market can go further.
Notice the OBV -- MACD- & oscilator are not supoorting any further rally at the open
jay 820 easy
ReplyDeleteIf you fancy EW you must realize that one of the hallmarks of wave C or 3 is its tendency to become record overbought/sold and stay there.
ReplyDeleteWave 5 creates a divergence in the technical indicator.
So if your indicators are screaming buy/sell you must ask yourself if that is because we are in a wave 3 or a wave C, in which case the market can go further.