Monday, August 2, 2010

Gbp vs Jpy, Gbp vs Usd, Eur vs Usd & Aud vs Usd - Market Overview


Gbp vs Jpy (1H) - Please be noted that the previous H and S pattern (white) was already invalid. Favourably, I'm looking forward for an opportunity towards a "double top" reversal pattern refering to the alt count in magenta. Otherwise, we may see another bullish continuation trend to complete subwave 5 in yellow.


Gbp vs Usd (Daily) - Preferably, I'm looking forward for a bearish reversal trend to perform corrective wave b either in yellow or white. I believed market just performed a "bull trap" scenario.


Eur vs Usd (4H) - I believed market just performed a"bull trap" scenario to complete either corrective wave a (magenta) or wave 4 (yellow or white). Therefore, I'm looking forward for a bearish reversal trend scenario later within this week.


Aud vs Usd (Daily) - At this moment, I'm looking forward for a major bearish reversal trend scenario either refering to the alt count in white or magenta. Otherwise, please be careful for any bullish continuation trend scenario perhaps to complete corrective wave B in magenta ("Triple Top"). Good luck.

Summary - I believed bullish trend in GbpJpy, GbpUsd, EurUsd and AudUsd was already exausted so therefore I'm looking towards a bearish opportunity later.