Thursday, September 16, 2010

Gbp vs Jpy & Eur vs Usd - Market Overview

Gbp vs Jpy (1H) - At this moment, I'm looking for an opportunity towards either a bearish retracement trend scenario to perform subwave 4 in white or a bearish reversal trend scenario in magenta (truncated). Otherwise, we may see a bullish continuation trend scenario to perform a "diagonal triangle" pattern or wave 5 in yellow.

Eur vs Usd (4H) - I believed market in progress to complete a "bull trap" scenario refering to the alt count in white. Therefore, I'm looking towards a bearish reversal opportunity later to perform subwave c either in white or magenta. Otherwise, please be careful towards a "double top" corrective wave b scenario in yellow. Happy Hari Raya and good luck.