General overview for 30/10/2013 11:20 CET
The Triangle count has been invalidated and new, re-labeled slightly count is here.
The overlapping and choppy price action is still a form of a corrective wave and according to my count there is still a possibility of impulsive decline to the downside.
THe current labeling indicates even more complex and time consuming corrective wave 2 OR (b) in shape of (w)(x)(y) complex Double Three Correction.
Please notice that break above 135.50 invalidates the bearish impulsive count.
Support/Resistance:
135.60 - WR1
135.50 Swing High | Invalidation Level |
135.18 - 135.05 - SUPPLY ZONE
134.59 - Weekly Pivot
133.68 - WS1
133.59 - Techncial Support
Trading recommendations:
There is too many possibilities for a high probability trade now. Let us wait for news to clear the situation and maybe next setup will be better in terms of R/R.
