There is still one more wave to the downside missing so all the upside rallys should be considered as corrective and the main objective now is to find the end of wave 4 and sell it.
I have two scenarios here:
SCENARIO 1: wave 4 will end on previous wave four area of a higher degree ( (iv) ) somewhere in the area of 0.9400 - 0.9417
SCENARIO 2: wave 4 will end higher into 50% Fibo somewhere in the area of 0.9483 - 0.9515.
Please notice that there is a possibility, that this wave 4 might be in shape of a TRIANGLE as well!
Support/Resistance:
0.9834 - Swing High
0.9590 - blue impulsive count invalidation line
0.9567 - 61%Fibo
0.9517 - 0.9483 SUPPLY ZONE OF WAVE 4
0.9400 - 0.9417 - SUPPLY ZONE OF WAVE 4
0.9132 - Swing Low
Trading Recommendation:
Sell the wave rallys inot the SUPPLY AREAS of 0.9400 - 0.9417 OR 0.9517 - 0.9483
SIGNALS:
Forex Signal No.336a|Sell USD/CHF@0.9417|SL:0.9437|TP1:0.9250|TP2:0.9137|2013.06.22 11:30 CET|SwingSell|
Forex Signal No.336b|Sell USD/CHF@0.9515|SL:0.9537|TP1:0.9250|TP2:0.9137|2013.06.22 11:30 CET|SwingSell|
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