A week ago waves backtested the broken resistence line, for now it hoovers on the old support line, getting ready for a new move towards 160/170 area. I'm not greedy and will settle for 140..
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Still above support waiting for the upmove. Rises so far have been confined by the 115/120 area.. So we need to break this first.
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Added the red horizontal resistance line, which is expected to break for a move towards 140 and very possible beyond.
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Line broke.. we saw a nice upside move till 135, unfortunately it got sold.. for now there is some resistance at the 127 level.
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Idea is still valid.. some tough horizontal resistance needs to be overtaken, but should be a matter of time.
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Market under pressure due to China's ICO ban. Waves might fall back to horizontal support in 90 - 99 area.
Trade geschlossen: Stop wurde erreicht:
Waves fell out off the upward channel, for now expect a more sideways movement between 95 and 130.