Sunday, January 3, 2010

Gbp vs Jpy, AUD and EU - Market Overview

Gbp vs Jpy (1H) - Please be noted that due to the strong bullish trend, therefore I have to do a recount towards the bearish possible alt counts. Preferably, I'm looking forwards for a valid rising wedge pattern that would bolster towards the bearish continuation trend scenario (yellow trendlines). A pullback from the upper yellow trendline would bolsters to this scenario. Please be careful since market may have a possibility to perform a corrective wave abcde in magenta.

Gbp vs Jpy (Daily) - At this moment, market already touched the upper trendline of the bearish channel in daily. Favourably, I'm looking forwards for a pullback scenario either to perform corrective wave c in white or wave iii in magenta. Otherwise, please be careful for a breakout from the upper green trendline.

AUD (Daily) - Preferably, I believed market already in bearish reversal trend either towards the alt counts in magenta or white. Please be careful for any bullish retracement trend to perfom major corrective wave B either in whte or magenta.

Eur vs Usd (Weekly) - Preferably, as long the white critical line is remain intact, I believed market will perform a major bearish reversal trend scenario to perform a major corrective wave C (white) in 5 bearish wave structures. At the moment, I believed market in progress to complete subwave i. Therefore, advisable to look for any good bearish entry once market perform a bullish retracement trend to perform subwave 2 later. Good luck and Happy New Year.