Friday, August 22, 2008

Gbp vs Jpy 1H Update #1


Since the previous yellow critical line is already been taken, therefore I need to do a recount for any possible bearish continuation bias alt count. Please analyse the latest possible alt counts especially the alt count in yellow. Please be noted also there are possible a "Falling Wedge" pattern detected in the chart. A true breakout to the upper green trendline would bolster the bullish retracement scenario (magenta or white) meanwhile a further downside trend until a breakout to the bearish continuation line 9 would bolster the alt count in yellow. Good luck.

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