Tuesday, September 16, 2008

Gbp vs Jpy 1H


Due to the current downside movement, this indicated that subwave c in wave b (magenta or white) still in progress. Therefore, I'm looking forward for a confirmation that wave b is already completed. A valid triple bottom pattern and a further breakout to the upper green trendline would bolster this scenario. Otherwise a true breakout to the magenta/white critical line would favour to the alt count in yellow, but please be extra careful for any "Bearish Trap" scenario. Good luck.

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