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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