Tuesday, March 4, 2008

Gbp vs Jpy 1H


At the moment, I believed the price in the correction phase (retracement) and will move up along inside the green triangle to complete wave iv before another bearish continuation to complete wave c and 5. As long the price not break the major long critical line, this scenario will be valid. But if we have a breakout to the lower trendline of the green triangle and its continue to break the major long critical line, it can be consider that we are already in a bearish continuation. the other option is an alt count (in white) where as the market are in bullish reversal. A breakout to the short critical point will boilster this alt count idea. Preferable - Correction Phase (Retracement - in wave iv). Wait for a complete signal from BSTS before making any entry.

No comments: