Sunday, November 18, 2012

Gbp vs Jpy (1H) & Aud vs Usd (4H)

Gbp vs Jpy (1H) - At the moment, I believe market either in progress to complete a wave 3 in aqua or wave 5 in yellow. Therefore I'm looking toward a potential of bearish retracemenet trend either to perform wave 4 (aqua) or corrective wave a (yellow). A triple top and a "bull trap" pattern would bolster to this scenario. Otherwise we may see another extension of wave 5 in white.

Aud vs Usd (4H) - Preferably, I believe market in progress to complete wave ii before expecting toward another strong bearish continuation trend scenario either to perform an impulsive wave iii in aqua or yellow. This scenario would be invalid if market further go up and break the aqua/yellow critical line. Good luck.