Tuesday, November 4, 2008

Gbp vs Jpy 1H Update #1


At this moment, market still inside the teal triangle and I'm looking forward for any breakout to confirm which alt count is more favourable. I believed market in progress to complete subwave 2 (cyan) before expecting for another bearish continuation to complete either a truncated major wave 5 (yellow) or an impulsive major wave 5 (magenta). A strong breakout to the lower red trendlines would bolster this scenario. Otherwise, please be careful for a breakout to the upper green trendline and later to the magenta/yellow critical lines which would favour to the alt count in white. Good luck.

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