General overview for 02/10/2015:
The big triangle labeled as wave 4 purple might be completed (h4 chart), but on lower time frames the recent decline ) does not look too much impulsively to me yet, so it the triangle might last a little big longer. The alternative count indicates that wave 4 purple is acctualy that small, you can not see it here and the whole impulsive structure had been completed already.
121.26 – Wave e Top | Invalidation Level|
121.22 – 50 SMA
121.44 – 100 SMA
120.36 – Weekly Pivot
119.49 – WS1
Stop loss orders for sell positions should be placed above the level of 121.26.