General overview for 20/10/2015 09:55 CET
One of the possible scenarios for wave b green development is a triangle pattern. Currently, two more sub-waves are needed to complete the triangle pattern before a breakout lower would happen. On the other hand, any breakout above the level of 136.00 would invalidate the pattern scenario and make wave b green more extended to the upside.
Support/Resistance:
136.95 - Wave D Top
136.58 - WR1
136.00 - Intraday Resistance
135.68 - Weekly Pivot
134.79 - Intraday Support
Trading recommendations:
Day traders should consider opening sell orders from the current price levels with SL above the level of 136.20 and TP at the level of 134.75.
