Diageo (DEO): A Major Correction Approaches

SUMMARY

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When five waves of an impulse, regardless of degree of trened, approaches; there is a requisite correction that takes place. All these occur per Fibonacci ratios which is reflective of sentiment or crowd mood. The chart below of Diageo (DEO) shows that the whole impulse sequence is nearly complete. There is probably one more incremental higher high needed.

The blue subwaves of white 5 show that all are placed except for blue 5. That indicates one more incremental higher high is likely. Would you buy like crazy for those last remaining crumbs? The coming correction will take most by surprise and fear will build on fear. The ABC sequence is likely to retrace towards the prior wave 4 at the minimum. Yes, the depth of retracement can be much lower towards 0.618 or 0.78 Fib levels. Be cautious!

Legal Disclaimer: I am not a financial advisor nor is any content in this article presented as financial advice. The information provided in this blog post and any other posts that I make and any accompanying material is for informational purposes only. It should not be considered financial or investment advice of any kind. One should consult with a financial or investment professional to determine what may be best for your individual needs. Plain English: This is only my opinion, make of it what you wish. What does this mean? It means it's not advice nor recommendation to either buy or sell anything! It's only meant for use as informative or entertainment purposes.

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