Monday, August 11, 2008

Gbp vs Jpy 1H


At this moment, market already reached the lower red trendline and bounce back. I'm looking forward for a bullish retracement to complete subwave ii (yellow or magenta) before expecting for another bearish continuation to perform subwave iii (yellow or magenta). An establishment of possible "H & S" pattern (yellow rectangle) would bolster this scenario. Otherwise, we may see a bullish reversal trend according to the alt count in white. Preferably, advisable to standby for any bearish continuation signal from BSTS later. Good luck.

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