Wednesday, May 12, 2010
USDJPY : Bearish Butterfly [emerging]
While looking at this pair, I see a potential of deep drop for cross Yen pairs. I prefer to stay away form this pair due to uncertainty. In bigger picture, when it completes its D, this pair will continue the downtrend.
EURJPY : Bearish Butterfly [emerging]
B is 0.786 XA at 122.2, triggering the butterfly pattern for this pair. I'm anticipating a further drop from this pair before rallying to complete its D.
GBPJPY : Bearish Gartley [emerging]
Not much differ from GBPUSD. I'm also planning to trade from C to D for this pair.
GBPUSD : Bearish Gartley [emerging]
B sharply reached 0.618 XA at 1.505. This pair is emerging an ideal gartley. I choose to stay away for awhile to seek better entry. I'm planning to trade from C to D.
EURUSD : Bearish Gartley [emerging]
B is at 1.309, about 55 pips overshoot from 0.618 XA. My strategy is placing a buy limit at 1.257 with 50 pips SL. Target projection of D is at 1.317 at 0.786 XA.
AUDUSD : Bearish Gartley [emerging]
It's been a month since my last update on this blog. I'm thinking of shifting from blogger to hosted website in future. Just for quick and short update, this gartley is found on 1-hour timeframe. B is 0.618 XA at 0.908 and from B, this pair will continue its downtrend. I'm anticipating a drop to 0.886 AB for point C at 0.875.
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