Wednesday, July 30, 2008

Gbp vs Jpy 1H


At this moment, price already made a breakout to the lower teal triangle trendline. Expected to see a further movement to the downside until the lower red trendline to complete subwave i (yellow) before any possible upside movement to complete subwave ii (yellow ) or wave b (magenta) or wave 3 (white). So please watch closely the lower red trendline for any breakout or bounce scenario later. Also if there is any movement to the upside trend, please monitor the upper green trendline and the bullish continuation line 1 and 2. Therefore please be extra careful since tonight (8.15pm GMT +8) and on Friday (8.30pm GMT +8) got a very important news that will effect the market. Preferably, I'm looking for a bearish movement within this week and don't forget to protect your entry with SL. Good luck.

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