I will stick with this bullish impulsive count as long as the 1.0328 level is not violated. If this level is hit, the larger cycle impulsive green count is invalidated.
Currently, the count is in form of ZigZag wave 4 green and a projected level for this corrective wave termination is around 1.0337, and traders should anticipate some kind of bounce from this level.
If the level of 1.0328 is violated, then the count will be revised to wave 1-4 overlapse.
Further strength is confirmed when 1.0370 is broken to the upside.
Support/Resistance:
1.0428 – WR1
1.0417 – Swing High
1.0370 – Intraday Resistance
1.0360 – Weekly Pivot
1.0337 – Intraday Support
1.0328 – Invalidation Line
1.0301 – WS1
Trading recommendations:
Long positions should be in play form the 1.0337 – 1.0328 zone with tight SL and potential TP level at 1.0370 and 1.0387.
The material has been provided by InstaForex Company – www.instaforex.com
General overview for 14/10/2013 08:15 CET
I will stick with this bullish impulsive count as long as the 1.0328 level is not violated. If this level is hit, the larger cycle impulsive green count is invalidated.
Currently, the count is in form of ZigZag wave 4 green and a projected level for this corrective wave termination is around 1.0337, and traders should anticipate some kind of bounce from this level.
If the level of 1.0328 is violated, then the count will be revised to wave 1-4 overlapse.
Further strength is confirmed when 1.0370 is broken to the upside.
Support/Resistance:
1.0428 – WR1
1.0417 – Swing High
1.0370 – Intraday Resistance
1.0360 – Weekly Pivot
1.0337 – Intraday Support
1.0328 – Invalidation Line
1.0301 – WS1
Trading recommendations:
Long positions should be in play form the 1.0337 – 1.0328 zone with tight SL and potential TP level at 1.0370 and 1.0387.
The material has been provided by InstaForex Company – www.instaforex.com
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