General overview for 25/11/2015:
The impulsive wave development to the upside looks incomplete and higher prices are expected.
Two scenarios are currently in play:
– scenario one – main count – suggest more upside wave progression as the impulsive structure unfolds with the first projected target at the level of 4.7000. Nevertheless, any breakout below
the level of 3.8368 will invalidate the current impulsive scenario and make alternative labeling
– scenario two – alternative count – indicates an incomplete ABC corrective cycle. Any breakout below the level of 3.8368 will invalidate the current impulsive scenario and make alternative
labeling in charge.
4.7455 – Last Major Swing High from year 2000
4.0000 – Round Number Support
3.9673 – Wave 1 High
3.8368 – Invalidation Level
Swingtraders that still keep the buy orders open should move the SL to the level of 3.9672 and
wait for another higher high to come. Please notice the bearish divergence suggest an internal corrective sub-cycle is coming soon.
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