Monday, March 10, 2008

Gbp vs Jpy 1H Update


Price already touched the lower red trendline but then rebounce back. I came out with "Diagonal Triangle" correction wave (blue diagonal) which is from my personnel point of view, the price will go up to complete wave e before going down again to complete C and V. Otherwise if the price break the short critical line, this scenario will be invalid. Or, the price will continue going down and break the lower red trendline for a bearish continuation.

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