Monday, November 16, 2009

Gbp vs Jpy, Gbp vs Usd and AUD - Market Overview


Gbp vs Jpy (1H) - At this moment, the lower red trendline still remain intact. Therefore, please be extra careful since market may perform another bullish trap scenario refering to the alt count in magenta before we can expecting for a bearish reversal trend scenario. Otherwise, if the lower red trendline and the bearish continuation critical line 1 is taken, then I believe market already in progress to complete subwave iii in c (white).


Gbp vs Jpy (Daily) - Favourably, I'm looking forward market to perform a major bearish continuation trend scenario either in white (wave 2 completed) or magenta (wave 2 still in progress).


Gbp vs Usd (Daily) - At this moment, I'm looking forward market to complete corrective wave b either in magenta or yellow before expeting for a bearish reversal trend to complete corrective wave c. A diagonal triangle pattern indicate that perhap bullish trend is already exausted. But please be careful for any common bullish trap scenario in those pattern.


Gbp vs Usd (Monthly) - Preferably, I'm looking forward market to perform a major bearish trend either to perform corrective wave c in yellow or major wave 5 in magenta.


AUD (Daily) - A diagonal triangle pattern indicate that the bullish trend since march 2009 is in ending stage (exausted). Therefore, advisable to look for any opportunity towards a bearish reversal trend scenario to perform corrective wave a,b and c in white. Otherwise, please be careful for a "double top" scenario to complete wave v in 5 before we can expecting for any bearish reversal trend. Good luck.