General overview for 15/10/2015 10:50 CET
A green impulsive count has been invalidated due to wave (iv) and wave (i) overlaps and the count had been updated to incorporate recent changes. Currently, the wave development is getting more and more complex and time-consuming. The H4 time frame chart shows a possibility of another leg up if the overall corrective structure in wave D black progresses into a triple-three complex corrective structure. Nevertheless, any violation of the level at 133.40 will invalidate this scenario, and a downward wave progression will be more possible than upward.
Support/Resistance:
136.11 - Weekly Pivot
135.99 - Intraday Resistnace
135.28 - WS1
135.21 - Intraday Support
134.77 - 61% Fibo
Trading recommendations:
Day traders should consider opening sell orders from the level of 135.99 with SL above the level of 136.20 and TP at the level of 135.21.
