General overview for 11/03/2015 08:30 CET
The current Elliott wave to follow is the alternate count 2 presented a couple of days ago. In this count we can track an impulsive wave development from wave 4 blue high at the level of 135.88. The wave five decline looks like it is completed and it has been labeled as wave 1 or wave A with the bottom at the level of 129.22. Please notice that this low might be only the first wave of the overall impulsive decline in wave 5 blue. More downside decline is still possibleas long as the level of 130.71 is not broken.
129.10 - WS1
129.22 - Intraday Support
130.71 - Intraday Resistance
131.85 - Weekly Pivot
Buy orders should be open only if the level of 130.71 is clearly violated with a minimum hourly candle close above this level. Moreover, the price action might get choppy and full of whipsaws.
Sebastian Seliga neemt deel aan de "Analyst of the Year" onderscheiding georganiseerd door MT5.com portal. Als u zijn artikel goed vindt, stemt u dan op hem.
Uitgevoerd door, Analytische expert
InstaForex Group © 2007-2015