Monday, May 5, 2008

Gbp vs Jpy 1H


Looking forward to see a breakout to the lower trendline of my small teal triangle soon. Expecting for a major corrective later this week to complete wave c (yellow). A true breakout to the lower thick red trendline would bolster this scenario. But the major bearish trend have a possibility which is either an impulsive wave c (yellow) or just a truncated wave c that will only perform a triple bottom (magenta) later. Otherwise we may see a bullish continuation after a true breakout to the bullish continuation line 3. Please noted that today is a holiday for Gbp & Japan (will continue until tuesday). Good luck.

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