Thursday, May 8, 2008

Gbp vs Jpy 1H Update #3


I believed market in retracement phase to complete subwave iv (cyan) or wave 4 (white) before another bearish continuation to complete subwave v (cyan) and wave 3 (yellow). Please also consider the probability for wave count in white which is a truncated wave 5 (double bottom) scenario. At this moment, I still can’t determine either wave count in yellow or white is more preferable. Therefore, please be carefull before making any entry. Preferable for bearish continuation to complete wave 3 (yellow) or 5 (white) after completion of retracement subwave iv (cyan) or wave 4 (white). Good luck

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