The Patterns on EU/GU and EJ look Similar However- currently on GU looks like a true 5 wave down pattern- still awaiting confirmation on Eur's which would need to happen in the next 2-3 hours- Distribution with upthrusts- and now it appears some larger seller orders (price continued to fall after the volume increased and at the s/r- indicating larger sell orders wating out the "range" (also Buyers stops getting hit)
As we have seen on NZD AUDJPY and AU once the price falls-- it continues - in their case slowly retracing- keeping buyers "trapped" and when it's too late... price will fall some more...
Thursday, August 30, 2012
AUDJPY NZD still leading -- EU/GU EUJPY Distribution Complete
The Patterns on EU/GU and EJ look Similar However- currently on GU looks like a true 5 wave down pattern- still awaiting confirmation on Eur's which would need to happen in the next 2-3 hours- Distribution with upthrusts- and now it appears some larger seller orders (price continued to fall after the volume increased and at the s/r- indicating larger sell orders wating out the "range" (also Buyers stops getting hit)
As we have seen on NZD AUDJPY and AU once the price falls-- it continues - in their case slowly retracing- keeping buyers "trapped" and when it's too late... price will fall some more...
