General overview for 11/11/2013 14:00 CET
The ZigZag wave WXY brown has been done now and corrective wave up is in progress.
The anticipated level for corretion to complete is 50%Fibo area at 133.32.
If SUPPLY ZONE is violated then alternate green count is invalidated as well as immediate impulsive wave progression is canceled.
Bias is still to the downside as long as SUPPLY ZONE holds.
Support/Resistance:
131.21 - Swing Low | WS1 |
132.19 - Intraday Support
132.45 - Weekly Pivot
132.70 - Intraday Support
133.32 - 50%Fibo Target
133.60 - 133.70 SUPPLY ZONE | WR1
Trading recommendations:
Short positions have two possible enties:
- 133.32 with SL above 133.83 and TP below 131.21.
- 133.60 with SL above 133.83 and TP below 131.21
