Monday, September 27, 2010
Gbp vs Jpy and Aud vs Cad - Market Overview
Gbp vs Jpy (1H) - At this moment, please be extra careful towards a "ascending triangle" bullish continuation trend pattern that would bolster to the alt count in yellow. Favourably, I'm looking forward for a breakout towards to the lower red trendline to perform corrective wave c in magenta.
Aud vs Cad (Daily) - Preferably, I believed the bullish trend is already exausted and therefore, I'm looking towards a major bearish reversal trend scenario to perform 5 bearish wave structure in C later. A valid "triple top" bearish reversal trend pattern would bolster to this scenario.
Aud vs Cad (4H) - At this moment, I believed market just performed a "throw-over" (bullish trap) pattern refering to the alt count in yellow. Otherwise, we may see another weak bullish rally to complete the unfinish of wave 5 in white (bull trap). Advisable to look for an opportunity towards a major bearish reversal trend entry from BSTS later. Good luck.