Thursday, August 7, 2008

Gbp vs Jpy 1H


Please be noted that the previous alt count in yellow is already invalid. Therefore please analyse the latest possible alt counts. I believed market in small retracement to complete subwave 4 before expecting another bullish continuation either to complete a truncated subwave 5 (yellow) or an impulsive subwave 5 (magenta or white). Please watch closely the bearish/bullish continuation line 1 and the major triangle for any breakout. And a wave recount is needed if the price break the bearish continuation line 1 later. Advisable to look for a bearish reversal entry signal from BSTS later once wave 5 is completed. Good luck.

No comments: