Sunday, November 29, 2009

Gbp vs Jpy and AUD - Market Overview


Gbp vs Jpy (1H) - At this moment, I believed market in progress to perform a major wave 5 either in white or magenta. Favourably, I'm looking forward market to perform another bearish continuation trend scenario either to complete a truncated subwave 5 in aqua or an impulsive subwave v in white. Therefore, advisable to look for a bearish continuation entry signal from BSTS later. But, please be noted that market may perform a strong bullish retracement trend to complete wave 2 magenta before another bearish continuation trend scenario.


Gbp vs Jpy (Daily) - Preferably, I believed market in major bearish continuation trend scenario either in white or magenta. A strong breakout towards the bearish continuation critical line 2 would bolster toward the alt count in white. Otherwise we may need to wait a "pullback scenario" for completion of subwave ii in magenta before expecting for another bearish continuation trend scenario.


AUD (Daily) - Favourably, I believed market in progress to complete the right shoulder of "Head and Shoulder" bearish reversal pattern of corrective subwave b in white. A pullback from the upper green trendline and a breakout towards the yellow neckline would bolster towards this scenario. Therefore, advisable to look for a bearish continuation entry signal from BSTS later. Otherwise, please be careful for any strong bullish scenario or any breakout towards the upper green trendline. Good luck.