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More Triangles that a percussion section!


Mercury

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As well as the Draghi induced whiplash I have noticed that the market is rife with Triangle formations.  I've posted recently in the FTSE 100 post and US markets post on potential ending Triangles (there on Dax and Nikkei too).  There is a nice one on AUDUSD now as well.  There are also several complex wave 4 Triangles: GBPUSD; EURUSD; Gold and DX.

 

This all suggests significant uncertainty in markets and when these Triangles break they often run hard.  On USD I'm bullish, and therefore I expect that Triangle to break to the upside soon and correspondingly Bearish on EUR and GBP.  I'm also looking for another Short on AUDUSD, maybe on a retrace of that ending Triangle.

 

On the Stock indices I believe the Bears will finally get a run, how long for I'm not sure, and I will see this as confirmed when we get a retrace with a lower high turning point then it's strap in time.

 

Happy days!

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AUD USD, has now turned lower, hopefully it will now break the 2 hourly trend line. The momentum hopefully will starting strengthening to the downside, however looks like we also in the very short term need to see a close below 7761, which is current weekly support. 



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