Monday, March 3, 2008

Gbp vs Jpy 1H


At the moment, the price already break my long major critical line. Due to this scenario, I prefer a Bearish Continuation if the breakout is true breakout. But otherwise as we can see, the blue triangle channel trendline is getting smaller so I presumed there will be a retracement soon. Also, as we can see there are a triple bottom pattern, maybe. If this triple bottom is a true signal and valid, then I believed there will be a bullish reversal to complete wave 2(alt count in white) in previous daily chart thats I have posted earlier. My tips is to wait for a good BSTS long retracement entry signal (refer to bigger tf1H/4H only) if there is. Good luck trading and have a nice day.

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