Thursday, May 22, 2008

Gbp vs Jpy 1H Update #1


Until this moment, 202.60 still hold as a strong support and after a few attempt of test, it still stay intact. Therefore I came out with new case scenario which is represent of diagonal triangle corrective subwave of A B C D & E for completion of wave 4 (magenta/yellow). A triple top pattern would bolster this new scenario (if valid).

Please noted that this new scenario would be invalid if the price make a breakout to my retracement critical line and if this happen, maybe we shall see an alternate white count scenario. So please be carefull before making any entry. Please study BSTS TF 4H, Daily and Weekly chart before making any conclusion. Good luck.

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