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Monday, 24 June 2013

EUR/USD H1 Update

General Overview:

Wave 1 should be finished now in five impulsive waves so sellig the rallys is the way to go now. First sell entry is for agressive traders, more classic one is on the previous wave four area of a lesser degree @ 1.3250 - 1.3290 area - this area merges with some important Fibo retracements.

If You like to ride a waves, You  can buy the lows of wave 1 as well  with stop loss below the low and take profit levels into sell areas.

Please notice that the alternate count indicates a possibility of WXY Irregular Flat Wave 4 correction as well  so any impulsive development above 78.6%Fibo would put the count into question.


Support/Resistance:

1.3416 - Swing High
1.3343 - 78.6% Fibo
1.3250 - 1.3290  Classic Sell Entry Area
1.3175 - Agressive Sell Entry Area (tigh SL)
1.3098 - Swing Low
1.3000 - Alternate count invalidation line/Top confirmation

Trading Recommendation:
Sell the Agressive (tight SL) or Classical Sell Entry Area with SL above the Swing High in anticipation of larger cycle decline.
SIGNALS:
Forex Signal No.330a|Sell EUR/USD@1.3175|SL:1.3190|TP1:1.3100|2013.06.22 11:30 CET|ScalpSell|
Forex Signal No.330b|Sell EUR/USD@1.3250|SL:1.3420|TP1:1.2950|TP2:1.2750|2013.06.22 11:30 CET|SwingSell|
Forex Signal No.330c|Sell EUR/USD@1.3290|SL:1.3420|TP1:1.2950|TP2:1.2750|2013.06.22 11:30 CET|SwingSell|

Seb

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