Thursday, March 12, 2015

3_12 The proverbial trap

5 waves up/ 5 waves down  or 5 waves down 5 waves up-- always taught as reversal...

AUDUSD-  5 waves down--  but is it 5 waves up?  Sellers hit today in prior region and at 50%- so have to wait and see... (cause it could be a wave 2 of 1)

EURAUD-- Looking For wave 3 to extend downward (IIRC a few weeks ago pointed out wave b extended past 1.  Now all bulls from June 2013 to present are suckin it.

EURNZD- well I guess its in free fall now...

GBPNZD- well got watch and see if it continues the decline...

GBPAUD- Had this one on the radar for a long time watching that triple top play out...