Join The Community

Search

Tuesday, 4 August 2015

EUR/PLN Daily









General overview for 04/08/2015:

The wave 2 purple top had been established at the 61%Fibo at the level of 4.2318. Since then the market is continuing the decline towards wave 1 purple low at the level of 3.9647 and a breakout below this long term low is anticipated.  Please notice, that the corrective cycle in the current wave 1 black might get as high as the level of 4.2381 before the corrective cycle is completed. Nevertheless, the mid-term and long-term bias remains bearish and new lows are expected.

Support/Resistance:
4.2381 - Wave 2 Top| Impulsive Bearish Count Invalidation Level|
4.2318 - 61%Fibo
4.1663 - Technical Resistance
4.0955 - Technical Support
3.9647 - Wave 1 Purple Low

Trading recommendations:
Swingtraders should consider to open a mid and long-term sell orders from current market levels with SL above the level of 4.2381 and TP at the level of 3.9647 with a possible downward extension to the level of 3.8220.

★★★★★★★★★★★★★★★★★★★★
IF YOU WANT TO DOWNLOAD THE FREE MT4 INDICATOR THAT SHOWS THE POSITIONS OF THE OTHER TRADERS FROM AROUND THE WORLD (AS USED IN MY CHART) PLEASE CLICK HERE:
★★★★★★★★★★★★★★★★★★★★
IF YOU NEED MORE DETAILED ELLIOTT WAVE COUNTS, 
SIGNALS 
AND
EDUCATIONAL MATERIALS, 
THEN JOIN MY VIP SERVICE!
★★★★★★★★★★★★★★★★★★★★



0 comments:

Post a Comment

Note: only a member of this blog may post a comment.

 
Don't Forget To Join US Our Community
×
Widget