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Guest Commentary: MarketVisionTV - Selling When it Looks Wildy Bullish

Guest Commentary: MarketVisionTV - Selling When it Looks Wildy Bullish

2012-03-28 15:55:00
Don Haines, MarketVisionTV.com,
Share:

* $ Canada continues to produce strong erratic moves.

* But remains within a range. This is typical of a triangle.

* A triangle at this point is bearish

* We will continue to trade the range being better sellers than buyer.

Guest_Commentary_MarketVisionTV_Selling_When_it_Looks_Wildy_Bullish_body_27MarCan.png, Guest Commentary: MarketVisionTV - Selling When it Looks Wildy Bullish

$Canada remains trapped within a bearish triangle and therefore should contain five three wave moves. Price action in every direction since the initial third wave low of 98.40 has developed in a three wave format. First with the 38.2 percent pullback to 1.0025 and then with the deep test of the low that held 98.60 consistent with a B wave. Much like the relatively aggressive but three wave rally in the C wave to 1.0035, the current D wave decline has taken a mirror image. Thus while it would be tempting to believe the the 99.65 pivot point will contain for an initial decline to 98.60 to complete wave 1 of a new downtrend, the odds slightly favor a final swing higher in the contracting triangle pattern to about parity. Continue to sell upside reactions expecting a range of consolidation resistance from 1.0055 to 1.0075 to contain for at least the 97.60 downside target. In fact an exact triangle objective projects 97.50.

Further videos and commentaries are available from www.MarketVisionTV.com.

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